✴️#BTC #bitcoin #crypto
➡️ 21Shares: Bitcoin selling pressure is at historically low levels.
21Shares analysts believe the $BTC market is close to seller exhaustion, although this doesn't guarantee an immediate reversal.
What we know:
➤ The Seller Exhaustion Constant indicator has dropped to approximately 0.007
➤ This value is among the 0.3% lowest levels on record since 2010
➤ Such lows have only been recorded 11 times in Bitcoin's history
➤ A year after such signals, the median $BTC growth was approximately +155%
➤ However, this signal does not necessarily mean that the bottom has already been reached
➤ Historically, after such levels, $BTC could continue to decline for some time before beginning a sustained recovery
According to 21Shares, the current data indicates a significant weakening of selling pressure and could be one of the signs of a base forming before the next market cycle.
➡️ 21Shares: Bitcoin selling pressure is at historically low levels.
21Shares analysts believe the $BTC market is close to seller exhaustion, although this doesn't guarantee an immediate reversal.
What we know:
➤ The Seller Exhaustion Constant indicator has dropped to approximately 0.007
➤ This value is among the 0.3% lowest levels on record since 2010
➤ Such lows have only been recorded 11 times in Bitcoin's history
➤ A year after such signals, the median $BTC growth was approximately +155%
➤ However, this signal does not necessarily mean that the bottom has already been reached
➤ Historically, after such levels, $BTC could continue to decline for some time before beginning a sustained recovery
According to 21Shares, the current data indicates a significant weakening of selling pressure and could be one of the signs of a base forming before the next market cycle.