glassnode: Strong Sell Pressure Since "1011" Plunge Has Dissipated, Signaling Potential Trend Reversal

BlockBeats News, October 27th, glassnode released a market insight stating that since the "1011" crash, spot and futures CVD have first shown signs of stabilizing, indicating that the strong selling pressure of the past few days has dissipated. (Note: CVD stands for Cumulative Volume Delta, which is a technical indicator used in trading to measure the net difference between buy (aggressive buy) and sell (aggressive sell) volume over a period of time, helping traders assess market sentiment, buying and selling pressure, and potential price reversals or divergences.)

The funding rate is still below the neutral level of 0.01%, indicating no excessive long positions or bubbles. In fact, over the past two weeks, the funding rate has repeatedly plummeted, indicating a cautious stance by participants. Various signs indicate that the aggressive selling pressure has actually peaked. These extreme sentiments typically herald an opportunity zone for trend reversal.