BlockBeats news, on March 13, CryptoQuant analyst Axel Adler Jr. posted that the seller risk ratio last showed signs of active selling pressure in December 2024 (around $107,000), and since then, this signal has remained inactive. Currently, the model indicates accumulation signals, while selling pressure on the network has dropped to approximately six times below the average level of this cycle. The indicator continues to decline and has returned to levels seen during the 2022–2023 bear market, when Bitcoin prices ranged between $16,000 and $20,000.
The current cycle has passed through the distribution phase and re-entered the accumulation phase, which is still ongoing. The 180-day rolling average has declined to 1,913, a level historically associated with bear market phases—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 condition is neutral with a bias toward accumulation. The primary risk is that, in the absence of a price catalyst, the market could enter a prolonged consolidation period, during which the SRR rolling average indicator would continue to decline.