Analyst: Bitcoin has transitioned from the distribution phase to the accumulation phase, with selling pressure dropping to one-sixth of the cycle average

BlockBeats News, March 13th, CryptoQuant analyst Axel Adler Jr posted, stating, "The last time the seller risk ratio showed active selling pressure signal was in December 2024 (around $107,000), and since then, the signal has been inactive. Currently, the model is showing an accumulation signal, while the selling pressure on the network has dropped to about 6 times lower than the current cycle's average level. This indicator is still steadily decreasing and has revisited the levels of the 2022-2023 bear market period—when the Bitcoin price was around $16,000–$20,000."

The current cycle has gone through a distribution phase and re-entered an accumulation phase, which is still ongoing. The 180-day rolling average has dropped to 1,913, a level historically associated with bear market phases, but during that time, the price corresponded to only $16,000–$20,000, whereas the current price is in the $67,000–$72,000 range. The current market status is neutral to slightly accumulative. The main risk is: If there is a lack of price catalysts, the market could enter a long-term consolidation, in which case, the rolling average SRR indicator will continue to decline."