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Analyst: This week the selling pressure level has reached an extreme level within the period, but BTC's stable price can be seen as a positive signal
BlockBeats News, July 26th, CryptoQuant analyst Axel posted on social media, stating that in this bull market cycle, only 12 weeks have seen shorting pressure equal to or stronger than this week, accounting for about 7.3% of the entire cycle. This means that this week's selling pressure ranks in the top 7% of historical extremes, but the price has already rebounded to $117,000—this fact alone can be seen as a positive signal.
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