Analyst: This Week’s Selling Pressure Reached Extreme Levels for the Cycle, but BTC’s Stable Price Can Be Seen as a Positive Signal

According to a report by Jinse Finance, CryptoQuant analyst Axel stated on social media that during the current bull market cycle, there have only been 12 weeks with short-selling pressure equal to or greater than this week, accounting for about 7.3% of the entire cycle. This means that the level of selling pressure this week ranks among the top 7% of extreme historical levels, yet the price has rebounded to $117,000—a fact that can itself be seen as a positive signal.