Analyst: On-chain data indicates that bitcoin selling pressure is easing and the market is buying the dip

ChainCatcher news, CryptoQuant analyst Axel posted on social media that the proportion of bitcoin supply in profit (30-day change) has rebounded from -12% to -6%, indicating that selling pressure is weakening and the market is buying the dip.

Although the current proportion of profitable coins is still lower than the level a month ago, the decline has significantly narrowed—negative momentum is weakening.