21Shares: Bitcoin Seller Exhaustion Indicator Hits Historic Low

The signal's value lies less in its predictive power than in what it reflects: a spot market where marginal sellers have largely already exited, leaving thin supply. That matters most for traders positioning around momentum, not for long-term holders. The caveat is that 2010 comparisons rest on a far smaller, structurally different market, so the read-through is limited. Whether reduced selling pressure translates into durable stabilization, or simply low liquidity that amplifies moves in either direction, is the open question.