{"id":655369,"date":"2024-11-29T02:30:41","date_gmt":"2024-11-29T02:30:41","guid":{"rendered":"https:\/\/uniquehot.com\/?p=655369"},"modified":"2024-11-28T13:45:01","modified_gmt":"2024-11-28T13:45:01","slug":"glassnodes-bitcoin-seller-exhaustion-bottom","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/bitcoin-news\/glassnodes-bitcoin-seller-exhaustion-bottom\/","title":{"rendered":"Glassnode’s Bitcoin “Seller Exhaustion” Indicator Just Flashed A Signal: Bottom In?"},"content":{"rendered":"

A Bitcoin indicator created by the on-chain analytics firm Glassnode has just given a signal that could suggest the exhaustion of selling pressure in the market.<\/p>\n

Bitcoin Seller Exhaustion Has Just Registered A Spike<\/h2>\n

In a new post<\/a> on X, Glassnode has shared an update on the Seller Exhaustion Composite for the Weekly-Monthly Bitcoin traders. The “Seller Exhaustion Composite” here refers to an indicator that basically identifies whether selling on the network has reached a state of exhaustion or not.<\/p>\n

Related Reading: Bitcoin Sentiment Cools Down From Extreme Greed: Can Rally Restart Now?<\/a><\/div>\n

The metric bases itself on a few on-chain indicators, with perhaps the most notable being the Realized Loss<\/a>, which measures the total amount of loss that the BTC investors are locking in.<\/p>\n

Historically, the cryptocurrency’s price has tended to form bottoms whenever holder capitulation<\/a> has reached a high. In such loss-taking events, coins transfer from the weak hands to the resolute entities, so the risk of further selling reduces, allowing for the asset to find a rebound.<\/p>\n

In the context of the current topic, the Seller Exhaustion Composite of only the Weekly-Monthly BTC traders is of interest. These are the investors who purchased their coins between one day and one month ago. The reason Glassnode has picked this specific cohort is that there is a statistical relationship between holding time and the tendency to sell.\u00a0The\u00a0HODLers<\/a> of the market carry their coins for long periods and, therefore, aren’t very likely to participate in selling at any point.<\/span>\u00a0The only times that these diamond hands are forced into capitulation are the major cyclical downturns.<\/p>\n

On the other hand, the investors who are relatively fresh buyers can be prone to panic selling, so loss taking from them can appear in all phases of the cycle, even the bull market.<\/p>\n

Now, here is the chart shared by the analytics firm that shows the trend in the Bitcoin Seller Exhaustion Composite for new buyers in the market:<\/p>\n

\"Bitcoin
The metric appears to have given a signal in recent days | Source: Glassnode on X<\/a><\/figcaption><\/figure>\n

As displayed in the above graph, the Seller Exhaustion Composite has just flashed a signal for the Bitcoin Weekly-Monthly traders. “This reflects high locked-in<\/span> losses from BTC <\/span>traders active in the last month,” notes Glassnode.<\/span><\/p>\n

Related Reading: Current Bitcoin Hashrate Can Sustain $4.9 Trillion Cap, CryptoQuant CEO Reveals<\/a><\/div>\n

The latest round of capitulation from these recent buyers has come as the cryptocurrency’s price has seen a tumble after its all-time high (ATH) above the $99,000 level.<\/p>\n

From the chart, it’s visible that the instances of high loss taking from this cohort all coincided with some sort of bottom in the price during the past year. Given this pattern, it’s possible that Bitcoin may be able to find another bottom off the back of the capitulation this time as well.<\/p>\n

BTC Price<\/h2>\n

Bitcoin had slipped all the way down towards $90,000 a couple of days back, but the coin seems to have made some recovery as it’s now floating around $95,400.<\/p>\n

\"Bitcoin
Looks like the price of the coin has rebounded since its low | Source: BTCUSDT on TradingView<\/a><\/figcaption><\/figure>\n
Featured image from Dall-E, Glassnode.com, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

A Bitcoin indicator created by the on-chain analytics firm Glassnode has just given a signal that could suggest the exhaustion of selling pressure in the market. Bitcoin Seller Exhaustion Has Just Registered A Spike In a new post on X, Glassnode has shared an update on the Seller Exhaustion Composite for the Weekly-Monthly Bitcoin traders. The “Seller Exhaustion Composite” here refers to an indicator that basically identifies whether selling on the network has reached a state of exhaustion or not. Related Reading: Bitcoin Sentiment Cools Down From Extreme Greed: Can Rally Restart Now? The metric bases itself on a few on-chain indicators, with perhaps the most notable being the Realized Loss, which measures the total amount of loss that the BTC investors are locking in. Historically, the cryptocurrency’s price has tended to form bottoms whenever holder capitulation has reached a high. In such loss-taking events, coins transfer from the weak hands to the resolute entities, so the risk of further selling reduces, allowing for the asset to find a rebound. In the context of the current topic, the Seller Exhaustion Composite of only the Weekly-Monthly BTC traders is of interest. These are the investors who purchased their coins between one day and one month ago. The reason Glassnode has picked this specific cohort is that there is a statistical relationship between holding time and the tendency to sell.\u00a0The\u00a0HODLers of the market carry their coins for long periods and, therefore, aren’t very likely to participate in selling at any point.\u00a0The only times that these diamond hands are forced into capitulation are the major cyclical downturns. On the other hand, the investors who are relatively fresh buyers can be prone to panic selling, so loss taking from them can appear in all phases of the cycle, even the bull market. Now, here is the chart shared by the analytics firm that shows the trend in the Bitcoin Seller Exhaustion Composite for new buyers in the market: As displayed in the above graph, the Seller Exhaustion Composite has just flashed a signal for the Bitcoin Weekly-Monthly traders. “This reflects high locked-in losses from BTC traders active in the last month,” notes Glassnode. Related Reading: Current Bitcoin Hashrate Can Sustain $4.9 Trillion Cap, CryptoQuant CEO Reveals The latest round of capitulation from these recent buyers has come as the cryptocurrency’s price has seen a tumble after its all-time high (ATH) above the $99,000 level. From the chart, it’s visible that the instances of high loss taking from this cohort all coincided with some sort of bottom in the price during the past year. Given this pattern, it’s possible that Bitcoin may be able to find another bottom off the back of the capitulation this time as well. BTC Price Bitcoin had slipped all the way down towards $90,000 a couple of days back, but the coin seems to have made some recovery as it’s now floating around $95,400. Featured image from Dall-E, Glassnode.com, chart from TradingView.com<\/p>\n","protected":false},"author":542,"featured_media":655374,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[88240],"tags":[428,27251,93448,735,1119,78790,61309],"class_list":["post-655369","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin","tag-bitcoin-bottom","tag-bitcoin-seller-exhaustion","tag-bitcoin-signal","tag-btc","tag-btcusdt","tag-glassnode"],"acf":[],"yoast_head":"\nGlassnode's Bitcoin "Seller Exhaustion" Indicator Just Flashed A Signal: Bottom In?<\/title>\n<meta name=\"description\" content=\"A Bitcoin indicator created by Glassnode has just given a signal that could suggest the exhaustion of selling pressure in the market.\" \/>\n<meta name=\"robots\" content=\"index, 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/uniquehot.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Glassnode’s Bitcoin “Seller Exhaustion” Indicator Just Flashed A Signal: Bottom In?","url":"http:\/\/uniquehot.com\/bitcoin-news\/glassnodes-bitcoin-seller-exhaustion-bottom\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/bitcoin-news\/glassnodes-bitcoin-seller-exhaustion-bottom\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/11\/btc_79cac4.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/11\/btc_79cac4.png?fit=1792%2C1024"},"articleSection":"Bitcoin News","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin bottom","bitcoin seller exhaustion","bitcoin signal","btc","btcusdt","glassnode"],"dateCreated":"2024-11-29T02:30:41Z","datePublished":"2024-11-29T02:30:41Z","dateModified":"2024-11-29T02:30:41Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Glassnode’s Bitcoin “Seller Exhaustion” Indicator Just Flashed A Signal: Bottom In?\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/bitcoin-news\\\/glassnodes-bitcoin-seller-exhaustion-bottom\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/bitcoin-news\\\/glassnodes-bitcoin-seller-exhaustion-bottom\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/11\\\/btc_79cac4.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/11\\\/btc_79cac4.png?fit=1792%2C1024\"},\"articleSection\":\"Bitcoin News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin bottom\",\"bitcoin seller exhaustion\",\"bitcoin signal\",\"btc\",\"btcusdt\",\"glassnode\"],\"dateCreated\":\"2024-11-29T02:30:41Z\",\"datePublished\":\"2024-11-29T02:30:41Z\",\"dateModified\":\"2024-11-29T02:30:41Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/11\/btc_79cac4.png?fit=1792%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/655369","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=655369"}],"version-history":[{"count":6,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/655369\/revisions"}],"predecessor-version":[{"id":655460,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/655369\/revisions\/655460"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/655374"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=655369"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=655369"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=655369"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}