There was at least a positive side to the test for Bitcoin yesterday.

There-was-at-least-a-positive-side-to-the-test-for-Bitcoin-yesterday

Although investors have just experienced another terrible event, which has been warned based on CQ's on-chain data about the FTX exchange and the FTT token.

However, there was a positive side that BTC has passed this sentiment test once again quite firmly. 

There are a few metrics we need to look at here:
Spent Output Value Bands (10-100), (100-1K), & (1K-10K)

During this bear season, with lots of drama, each significant test occurrence was accompanied by a volume displayed on SOVBs, especially the three abovementioned ones.

In 3 previous deep declines, based on the volume oscillator and 7DMA, the participation and increasing selling pressure were shown in all three value bands. However, yesterday's test's participation declined significantly, even weakly, in the two bands (100-100)(100-1K). 

Besides, The Estimate leverage Ratio & O.I has also cooled down to the same level as the deep drop in June.

This may indicate that the selling power is almost exhausted.