Bitcoin Demand Weakens Despite Strong Institutional Buying

The Bitcoin market is experiencing a decline in demand, with indicators showing that selling pressure surpasses buying activity. According to data from CryptoQuant, the apparent demand has dropped to -63,000 BTC over 30 days.

Large holders, or whales, have shifted their behavior from accumulation to aggressive selling, distributing approximately 188,000 BTC. Mid-sized holders continue to accumulate but at a significantly reduced pace compared to previous years.

The price of Bitcoin is currently about 21% above its realized price, which suggests that the market has not yet reached a full capitulation phase. Historically, market bottoms occur when Bitcoin trades below its realized price.