CryptoQuant analyst Axel posted on social media that in this bull market cycle, only 12 weeks have seen short selling pressure equal to or stronger than this week, accounting for about 7.3% of the entire cycle. This means that the selling volume this week ranks in the top 7% of extreme levels in history, but the price has rebounded to $117,000 - a fact that can itself be seen as a positive signal.
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Analyst: This week's selling pressure reached an extreme level within the cycle, but BTC's stable price can be seen as a positive sign
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