The Bitcoin market continues to face challenges as demand weakens despite strong institutional buying. According to data from CryptoQuant, the clear demand for Bitcoin has decreased by -63,000 BTC over the past 30 days, indicating that selling pressure still outweighs buying activity.
Whales have been a significant contributor to this decline, with large holders switching from accumulation to aggressive selling. These whales have sold approximately 188,000 BTC over the past year, marking one of the largest changes in their behavior on record.
Meanwhile, institutional buyers such as ETFs and strategies have absorbed around 94,000 BTC, but this is not enough to offset the overall supply. The total outflow from the market is estimated to be around ~157,000 BTC, highlighting a growing imbalance in the market.