Bitcoin Seller-Exhaustion Index Posts Second-Lowest Cycle Reading

Bitcoin (BTC) recorded the second-lowest level of its current cycle on a seller-exhaustion index during a pullback to $77,000 several days ago, market analyst Murphy said, describing it as a second signal after one in August. The index combines low volatility with high losses. Murphy said readings in its “extreme exhaustion” zone have appeared around cycle bottoms and become harder to repeat after a bottom structure forms. Murphy said the latest reading was the cycle’s second-lowest; a prior signal occurred Aug. 11.