glassnode: The strong selling pressure since "1011" crash has subsided, possibly indicating a trend reversal

BlockBeats News, on October 27, glassnode released a market outlook stating that since the "1011" plunge, spot and futures CVD have flattened for the first time, indicating that the strong selling pressure over the past few days has subsided. (Note: CVD stands for Cumulative Volume Delta, a technical indicator used in trading to measure the net difference between buy (aggressive buy) and sell (aggressive sell) volumes over a period of time, helping traders assess market sentiment, buying and selling pressure, and potential price reversals or divergences.)

The funding rate remains below the neutral level of 0.01%, indicating there are no excessive long positions or bubbles. In fact, the funding rate has dropped significantly several times over the past two weeks, suggesting that participants are inclined to be cautious. All signs indicate that aggressive selling pressure has actually peaked. Such extreme sentiment usually signals an opportunity area for trend reversal.