Bloomberg: Bitcoin buying pressure fails to offset the wave of whale sell-offs

Odaily · 2026-04-02T01:22:20+00:00

Although institutional buying has increased, Bitcoin demand remains under pressure, with apparent demand at -63,000 coins. Retail selling has exceeded institutional net purchases, leading to ongoing market distribution. Whales began large-scale selling from mid-2025, accelerating into Q4. Bitcoin price has dropped about 45% from its high, but a short-term rebound may occur due to easing geopolitical tensions.

Odaily

2026-04-02 01:22:20

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Odaily Planet Daily reports that despite an increase in institutional buy-side demand, Bitcoin demand remains under pressure. As of the end of last month, apparent demand (measuring the extent to which demand is above or below newly mined Bitcoin) was approximately negative 63,000 coins. Although ETF buying momentum improved during the same period, Strategy Inc. has continued to add to its holdings.

The report notes that selling by retail investors and other market participants has exceeded incremental institutional buying. Since late November 2025, demand has continued to contract, and the overall market remains in a distribution phase. The whale group that accumulated roughly 200,000 Bitcoins during the 2024 bull market began large-scale distribution starting in mid-2025, with the pace of selling accelerating in the fourth quarter of 2025. The buying pace of mid-sized investors has also slowed.

Bitcoin rose 2.2% in March, ending five straight months of declines, but its current price is around $68,000, down about 45% from the October early high of $126,000. In the U.S. market, the Coinbase premium has turned negative again, indicating that U.S. investor buy pressure has weakened. CryptoQuant said that if geopolitical tensions ease, Bitcoin’s price may rebound in the short term.

BTC-3.32%

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