[Opinion: Bitcoin Selling Pressure Hits Highest Level Since August on November 5th; Panic May Take Weeks to Digest] BlockBeats reports that on November 7th, crypto analyst Murphy wrote that significant panic emerged in the market on November 5th, with the spot active trading volume difference (SVD) on trading platforms heavily skewed towards sellers. Selling pressure reached its highest level since the start of this rally in August, even surpassing the active selling pressure triggered by the Binance security incident on October 30th. Murphy pointed out that the continuously increasing active selling pressure pushed prices further down, but it's too early to determine whether buying power has increased. Only when a similar amount of active selling pressure reappears, but prices no longer fall significantly, can it be said that buyer order depth may have improved. He believes that the Binance black swan event and the sharp drop in US stocks have impacted the market in the short term, significantly damaging bullish confidence. The market may need several weeks or even a month or two to digest the panic, and the probability of a direct V-shaped rebound in the short term is low. The focus going forward should be on observing changes in investor behavior, market sentiment, and the distribution of shares. [Original Link]