Seller Exhaustion Indicator Drops to Lowest Since Bear Market, Bitcoin Reversal Still Requires New Demand

Odaily reports: Darkfost posted on the X platform that on-chain data shows the Bitcoin seller exhaustion model indicator has fallen to its lowest level since the current bear market began. This indicator measures whether sellers still have enough supply to push prices down by comparing the proportion of profitable supply in the market with average monthly volatility. After Bitcoin pulled back more than 10% from its previous high, short-term profit-taking has largely been completed, and seller momentum has weakened. Historically, a decline in selling pressure has usually helped the market bottom out, but reduced selling pressure does not mean the market will immediately rebound. The market currently still lacks new demand to drive prices higher, and until buying capital returns in a substantive way, Bitcoin's upside remains limited.