Bitcoins [BTC] The market structure faces an important test. Recent data indicate a clear shift in whale behavior as large retainers no longer accumulate; instead they are distributing.
The whale trend is becoming structurally bearish
According to the recent data, addresses holding between 1,000 and 10,000 BTC have transitioned to net sellers. Over the past year, whale stocks have decreased by 188,000 BTC. This comes after a strong accumulation phase in 2024, where more than 200,000 BTC was added.
Therefore, such a shift is not just a temporary noise; the market experiences structural selling pressureas the 365-day trend indicates a downward shift.
That’s not all; BTC withdrawal activity is also gaining momentum among short-term holders and traders. Based on recent data, the number of active addresses sending BTC to exchanges has increased sharply in recent days. The collective pullback activity could further intensify expected bearish pressure.
There is extra pressure on the sales side
The selling pressure is not just limited to longer-term wallets. Bitcoin mining company Riot Platforms recently sold another 500 BTC worth approximately $34.13 million. Such movements contribute to the circulating supply. Combined with the dispersal of whales, they reinforce the downward pressure.
BTC’s demand zone is now under scrutiny
Bitcoin is currently trading near a key demand zone between $62,000 and $65,000. Buyers have been at this level before, which has served as a support base in recent sessions.
Now the stakes are higher. If this zone holds, it could absorb continued selling pressure. That would help maintain the broader bullish structure, and failure to defend this zone could change the market structure.
An outage would be a signal that selling pressure has overwhelmed demand. In that case, Bitcoin could enter a deeper correction phase. On the other hand, strong spot market demand at this level could stabilize the price of BTC and trigger a recovery.
As a result, Bitcoin is at a critical point as all eyes are on the $62K-$65K zone. If buyers hold their positions despite the accumulation of bearish signals, the bullish structure survives. If not, the market could be headed for a shift.
Final summary
- Bitcoin whales holdings fell by 188,000 BTC, signaling a structural shift towards distribution.
- The demand zone between $62,000 and $65,000 is now critical as miners and whales increase selling pressure.