Bitcoin Whale Investors Absorb Retail Selling Pressure

The spot market for Bitcoin has seen continuous net outflows since November 2025, an eight-month period of sustained retail distribution. During this time, whale investors have been absorbing retail sell orders.

CryptoQuant's cumulative address data shows that long-term holders and whales are buying up the coins distributed by retail holders at progressively lower prices. This is a clear sign of a market in the later stages of a bear market distribution cycle, where retail exhaustion meets patient whale accumulation.

The data also points to a convergence with prior bottom signals, including Glassnode's Accumulation Trend Score at its maximum reading of 1.0 and Ethereum exchange supply at its lowest since 2015. Analysts believe that when spot demand for Bitcoin returns to positive territory, the market may experience a strong upward trend.