The Bitcoin price is currently over 30% below its all-time high of around $126,000, which was reached in the first week of October 2025. Unfortunately, things have gone downhill for the major cryptocurrency since reaching this peak, starting with the infamous October 10 market massacre.
The general consensus in the crypto market is that this price drop was caused by increasing selling pressure. Interestingly, the latest on-chain data suggests that the Bitcoin price has not seen significant selling pressure in years.
Lack of selling pressure means no distribution in the BTC market
In a December 27 post on the X platform, on-chain analyst Axel Adler Jr. said. revealed that the Bitcoin price has not seen strong selling pressure since early 2023. This puts the market leader on the verge of a new record in terms of sales activity.
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The crypto expert’s observation revolves around the Sales Pressure metric, which evaluates various indicators that track investor behavior and supply and demand dynamics. This metric tracks the movement of coins on the blockchain in real time and provides insight into potential price movements.
CryptoQuant’s data shows that the Bitcoin price has gone 1,079 days without strong selling pressure, and is close to the current all-time high of seller silence of around 1,125 days. Ultimately, this suggests that BTC price has yet to experience the selling pressure that often accompanies bear markets.
According to Adler Jr. the lack of strong selling pressure means that the Bitcoin price has not seen massive profit-taking, capitulation events, or distribution. The on-chain analyst did note that the lack of selling pressure does not automatically mean price growth for the flagship cryptocurrency.
Adler Jr. highlighted, however, that periods of heavy selling pressure are often followed by significant price movements for Bitcoin. As shown in the chart below, Bitcoin price has historically tended to rise for extended periods of time after a period of significant selling pressure.
BTC’s price was below $1,000 when selling pressure subsided in late 2015, before rising to around $20,000 in December 2017. A similar occurrence could be observed after the Bitcoin price emerged from the selling pressure of 2019 before rising to its then high of around $69,000.
Strong selling pressure is looming for the Bitcoin price, especially as the seller lull period approaches its all-time high of 1,125 days. Although the market leader could struggle during the period of strong selling pressure, the coin would likely exit the phase with an upward bounce. Nevertheless, Adler Jr. concluded that the Bitcoin market remains structurally resilient in its current state.
Bitcoin price at a glance
At the time of writing, the price of BTC is around $87,810, reflecting no significant movement in the past 24 hours.
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Featured image from iStock, chart from TradingView