PANews reported on March 13th that CryptoQuant analyst Axel Adler Jr. analyzed that selling pressure in the Bitcoin market has dropped to one-sixth of the cyclical average, currently in a positive accumulation phase. The Sell-side Risk Ratio model shows that the last selling pressure signal appeared in December 2024 (at a price of $107,000), after which the signal closed. Currently, the model shows an accumulation signal, with selling pressure on the network continuing to decline, resembling data from the $16,000 to $20,000 price levels during the 2022-2023 bear market.

The model divides the current cycle into two phases: a strong allocation phase from November to December 2024, ranging from $64,000 to $107,000, and the current regression and accumulation phase. The 180-day sell-side risk ratio has decreased from 3,210 to 1,913 over the past 60 days and continues to decline at a rate of approximately 20 points per day. The current seller behavior pattern matches the bear market phase, but the price remains between $67,000 and $72,000, creating a structural divergence.