CryptoQuant: Retail investors continue to sell Bitcoin, while whales are absorbing the selling pressure.
1 hours ago
According to data from CryptoQuant, Bitcoin (BTC) demand fell further yesterday compared to the prior day, with negative demand driven mainly by the spot market as selling pressure persists. However, data shows that the volume of BTC flowing into "accumulation addresses" is rising, indicating that some sold-off tokens are being absorbed by long-term holders. The spot market has seen continuous capital outflows since November last year, but whale investors are absorbing these sell orders. Analysts believe that when Bitcoin's spot demand turns positive again, the market may see a strong rally.
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