Analyst says Bitcoin selling pressure is easing

Selling pressure on Bitcoin is slowing, according to an analysis by crypto analyst Axel Adler Jr. He noted that the proportion of addresses selling BTC at a profit has declined. Adler explained that this suggests traders are viewing the price drop as a buying opportunity and are actively purchasing the asset. He added that it could also mean the rate at which profitable addresses are turning to losses is slowing, or that addresses previously at a loss are re-entering profitability due to buying inflows. Adler concluded that these changes indicate that negative momentum in the market has eased significantly.