Bitcoin seller exhaustion hits record high as market builds a base for next rally
Photo: TokenPost
Bitcoin selling pressure has reached its highest level on record by on-chain measures, signaling that the market is forming a firm bottom. The cryptocurrency could consolidate around current levels before another move higher. In an Oct. 17 interview with Bitcoin Magazine, financial expert Richard Byers said seller exhaustion was “the highest we’ve ever seen,” adding that Bitcoin was “really bottoming hard.” Byers said the market does not feel like an extreme bear market, but several on-chain indicators point to bottom formation.
Source: TokenPost
