Analyst: Bitcoin Has Transitioned from Distribution Phase to Accumulation Phase, Selling Pressure Drops to One-Sixth of Cycle Average

ZkProver · 2026-03-13T10:03:20+00:00

CryptoQuant analyst Axel Adler Jr pointed out that the seller risk ratio has turned off the active selling signal, currently showing an accumulation signal, with network selling pressure below average. The market condition is neutral leaning toward accumulation, with the main risk being that a lack of price catalysts could lead to prolonged consolidation.

ZkProver

2026-03-13 10:03:20

Abstract generation in progress

ChainCatcher News, CryptoQuant analyst Axel Adler Jr stated, "The last time the seller risk ratio showed an active selling pressure signal was in December 2024 (around $107,000). Since then, this signal has remained off. Currently, the model indicates an accumulation signal, while selling pressure across the network has dropped to about one-sixth of the average level during this cycle. This indicator is still declining and has returned to levels seen during the 2022–2023 bear market—when Bitcoin prices were around $16,000–$20,000.

The current cycle has already gone through the distribution phase and re-entered the accumulation phase, which is still ongoing. The 180-day rolling average has fallen to 1,913, a level typically associated with bear markets in history, but at that time, prices were only $16,000–$20,000, whereas current prices are in the $67,000–$72,000 range. The current market state is neutral leaning towards accumulation. The main risk is that, without price catalysts, the market could enter a prolonged consolidation, during which the rolling average SRR indicator will continue to decline."

BTC3%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.