Bitcoin’s selling pressure may be nearing exhaustion, according to 21Shares. The Bitcoin Seller Exhaustion Constant, a measure of extreme selling conditions, is around 0.007—within the lowest 0.3% of all readings since 2010. This marks only the 11th time Bitcoin has reached such a low level. In the previous 10 instances, BTC was trading higher one year later, with the median gain reaching 155%. 21Shares stressed that the signal does not confirm Bitcoin has reached a bottom: historical patterns show the asset can continue falling in the short term before reversing its trend.