CryptoQuant Analysis Reveals Persistent Selling Pressure on Bitcoin Market

CryptoQuant's analysis reveals that Bitcoin's market-wide demand remains structurally negative, indicating persistent selling pressure.

The data indicates that retail investors and whales are driving the ongoing distribution, while institutional inflows, including ETFs, have proven insufficient to rebalance supply and demand dynamics.

A key indicator of this imbalance is the behavior of large holders, or 'whales,' who have shifted from accumulation to selling since mid-2025. These sales have accelerated in the fourth quarter, and CryptoQuant notes that such sustained distribution by whales has historically aligned with extended periods of price weakness.