Odaily Planet Daily News CryptoQuant analyst Axel posted on social media that in this bull market cycle, there have been only 12 weeks with short selling pressure equal to or stronger than this week, accounting for about 7.3% of the entire cycle. This means that this week's selling volume ranks in the top 7% of the extreme level in history, but the fact that the price has rebounded to $117,000 can itself be seen as a positive signal.