Bitcoin sell pressure hits 3-year peak as retention rate climbs and market risk stays elevated

According to on-chain data, Bitcoin has entered its most intense selling phase in three years, even as the holder retention rate has been rising. Analysts noted that this wave of market sell orders usually precedes a bottom and a consolidation period, but current buy/sell index readings still signal a risky environment for buyers. Recent metrics suggest that any price rebound could serve more as an opportunity to exit long positions than the start of a sustained recovery.