Methodology. The Seller Exhaustion Constant is an ARK Invest on-chain metric combining supply profitability with short-term price volatility: low readings mark bottoms where little of the supply is in profit AND volatility has subdued — sellers are exhausted. The orange line is the overall market SEC; click the legend to toggle the cohort breakdowns — red = Short-Term Holders, blue = Long-Term Holders (off by default). Both axes are logarithmic — price on the left, SEC on the right — matching checkonchain's layout. Data: daily …, series via checkonchain.com. Updated …