Glassnode's Bitcoin Seller Exhaustion Composite Indicator signaled that selling pressure has subsided and the market is nearing a recovery. Traders have suffered heavy losses over the past month, signaling that the market is nearing its bottom. According to experts, this could bring buying opportunities for long-term investors.
At the time of writing, Bitcoin (BTC) is trading at $96,148 and Ethereum (ETH) at $3,568.
The fear and greed index is at the extreme greed level of “83”.
Important developments during the day:
Immutable (IMX): 24.52 million tokens, corresponding to 1.47% of the amount of tokens in circulation, will be unlocked.
