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Bitcoin selling pressure has weakened to near-bottom levels, crypto asset manager 21Shares said in an analysis. The seller exhaustion constant currently stands at about 0.007, a level lower than just 0.3% of the period since 2010.
In a post on X, 21Shares said there had been 11 previous cases when the indicator fell to similar levels, and BTC rose one year later in all of them, with a median gain of 155%. 21Shares added that further short-term declines had still occurred after such readings, meaning the current level does not necessarily mark a price bottom.