Bitwise's European head of research, Andre Dragosh, has highlighted a reduction in selling pressure within the cryptocurrency market, providing a positive outlook for investors after a challenging week. Bitcoin's price dropped below $96,000, with Ethereum, XRP, and Solana also experiencing declines. The Crypto Fear & Greed Index reached a level of 10, indicating 'extreme fear' among investors. On-chain analytics firm Santiment reported that the market has seen a significant clearing of over-leveraged long positions, with recent liquidations being notably lower than in previous selloffs. While larger holders have reduced their exposure, retail wallets have continued to accumulate, suggesting a shift in market dynamics.