Analysts suggest easing Bitcoin selling pressure, but full bottom not yet confirmed; bear market may be in mid-stage

According to CryptoQuant analyst Axel, the NUPL-MVRV harmonic composite indicator stands at 0.33, which points to a decrease in selling pressure. Historically, price bottoms are seen around the 0.5 mark.

The current indicators suggest the Bitcoin bear market could be in its mid-stage. Although the selling pressure is moderating, there hasn’t been a confirmation of a complete sell-off in the market.