Bitcoin Faces Selling Pressure Amid Investor Uncertainty
Key Takeaways
Bitcoin remains in a distribution phase. Large market participants are selling more than they are accumulating. This leads to sustained selling pressure and high volatility. Recently, the Bitcoin price dropped by 8.57% within 24 hours and could decline further if market sentiment does not improve.
Bitcoin Remains in Distribution
According to data from Glassnode, Bitcoin has been in a distribution phase for 58 days. The so-called “Accumulation Trend Score” remains below 0.5, indicating that large market participants are selling more than they are buying. Historically, these phases last an average of 65 days, while accumulation phases typically last around 57 days.
Large Investors Continue to Sell
Data from CheckOnChain shows that the behavior of large market participants has not changed. The net change in whale and exchange balances remains positive, meaning more Bitcoin is being deposited on exchanges than withdrawn. This suggests that large investors continue to sell rather than hold for the long term.
Impact on Bitcoin Price
The ongoing selling pressure caused Bitcoin to drop back to $82,000 after briefly rising to $95,000. Average volatility has doubled, indicating that the market is currently dominated by speculative movements. As long as a clear accumulation phase does not emerge, Bitcoin’s price will remain under pressure.
What’s Next?
If market sentiment does not improve and selling continues to outpace buying, Bitcoin could fall further to $82,500 or lower. A sustainable recovery is only likely once macroeconomic uncertainties decrease and investors regain confidence in the market.
Our Assessment
Bitcoin is in a critical market phase. Current data shows that large market participants continue to sell, putting downward pressure on the price. A trend reversal is only likely when accumulation behavior changes. Investors should closely monitor market developments and look for signs of stabilization.
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