Bitcoin Faces Selling Pressure Amid Price Dip, But Net Accumulation Continues
Large Bitcoin holders, also known as “whales,” have been actively selling their assets in the face of recent price declines. Data reveals that addresses holding between 10,000 and 100,000 BTC were responsible for the majority of the sales, with a total of 25,740 BTC leaving these wallets in the last seven days. This selling activity is seen as a response to the market dip, which has prompted traders to secure profits or adjust their positions in anticipation of further price fluctuations. Market Responds with Net Accumulation Despite the significant selling pressure from large holders, the overall on-chain data presents a contrasting picture. The data shows a net accumulation across all Bitcoin addresses, indicating that many traders are taking advantage of the lower prices to increase their BTC holdings. This trend highlights a continued long-term bullish sentiment, with many investors choosing to accumulate rather than sell. Smaller holders, who typically exhibit more resistance to market fluctuations, appear to be holding strong and adding to their positions. This accumulation behavior has been observed across various Bitcoin price levels, with a notable increase in the number of addresses accumulating small amounts of BTC during the recent dip. Future Outlook Amid Ongoing Volatility While the market is facing short-term volatility, the net accumulation trend suggests that many traders are positioning themselves for a potential recovery. Despite the pressure from large holders’ sell-offs, the broader market sentiment remains cautiously optimistic, with a growing number of Bitcoin addresses continuing to build their holdings. The divergence between the selling activity of large holders and the accumulation trend among smaller investors may indicate that Bitcoin remains a valuable asset for long-term strategies, even as the market experiences temporary downturns. Meanwhile, at the time of press, BTC is changing hands at approximately $84,300, reflecting a 3.9% decline in the past 24 hours.
