Analyst: The selling pressure level reached an extreme level within the cycle this week, but the stable price of BTC can be seen as a positive signal

BlockBeats news, on July 26th, CryptoQuant analyst Axel posted on social media that in this bull market cycle, only 12 weeks have experienced short selling pressure equal to or stronger than this week, accounting for about 7.3% of the entire cycle. This means that the selling volume this week is at an extreme level of the top 7% in history, but the price has rebounded to $117000- a fact that can itself be seen as a positive signal.