Analysts: Bitcoin sell-side exhaustion indicator drops to bear market lows, selling pressure may ease

On Nov 04, CryptoQuant Certified Author Darkfost (@Darkfost_Coc) noted in a post that its seller exhaustion model shows BTC selling momentum is weakening. The metric compares the share of supply in profit to monthly average volatility to gauge whether sellers retain sufficient motivation to continue pushing prices lower. It has currently returned to bear market lows. Following a pullback of more than 10% from its previous high, short-term profit-taking appears to be largely cashed out. Darkfost pointed out that historically, reduced selling pressure usually helps establish a bottom, but this does not necessarily imply a market rebound, as a sustained recovery still relies on demand support, which Bitcoin currently lacks.