According to ReetikaTrades, the cryptocurrency market has shown resilience by avoiding new lows despite widespread FUD and a significant decline in the stock market, indicating a potential exhaustion of sellers at current price levels.

According to André Dragosch, global crypto hedge funds are currently as underweight to Bitcoin as they were during the FTX collapse. Their one-month beta to Bitcoin has declined to its lowest level since December 2022, suggesting that sellers are nearing exhaustion.