Analyst: Bitcoin selling pressure intensifies, hitting local top levels for this cycle

PANews October 11 news: Crypto analyst Darkfost posted that Bitcoin has entered a phase where seller pressure has noticeably intensified. After the recent rebound pushed Bitcoin's price above $85,000, the Seller Exhaustion indicator issued a signal, indicating that potential selling pressure is rising. This indicator combines profitable supply and volatility to identify risk and calm phases, and has relatively high short-term reference value. This increase was rather sudden, especially among short-term holders. The current indicator level is already close to the thresholds seen at multiple local tops earlier in this cycle. The analyst said that going forward, it is necessary to observe whether demand can improve and whether volatility converges, in order to curb a potential pullback and allow the indicator to return to normal.