Editor's PiCK
"Bitcoin Faces Top 7% Selling Pressure This Week...Recovery to $117,000 Is a Positive Sign"
Minseung Kang
Summary
- It was reported that "Bitcoin" experienced strong selling pressure this week.
- This week's selling pressure was said to be in the top 7.3% of the entire bull market.
- Despite such intense sell-offs, the rebound in the Bitcoin price to $117,000 was reported as a positive sign.
Despite the strong selling pressure in the market this week, there was an analysis that Bitcoin (BTC) prices recovered rapidly.
On the 26th, CryptoQuant contributor Axel Adler Jr. stated on X (formerly Twitter), "This week saw the strongest selling pressure during the entire current bull market," adding, "Such a level of selling pressure has only occurred for 12 weeks throughout the entire cycle, placing it in the top 7.3%."
He also added, "Despite these strong sell-offs, the fact that Bitcoin has already rebounded to $117,000 can be viewed as a positive sign."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
