Jakarta, Pintu News – According to the latest analysis from Axel Adler, an analyst at CryptoQuant, Bitcoin’s (BTC) spent sales volume (SMA-7d) has seen a sharp decline, reaching a weekly average of 529,000 BTC per day.
This decline signals that the wave of major sellers at the current price level has subsided, with sellers starting to reduce their activity in the market.

This was mainly due to a reduced incentive to sell following Bitcoin’s (BTC) recent lackluster performance. In fact, realized gains declined across all cohorts, with long-term holders gaining only 7,200 BTC, while short-term holders only 1,800 BTC, despite the price bounce.

With Bitcoin (BTC) price fluctuations, whales have changed their position by reducing activity on exchanges. Data from CryptoQuant shows that the Exchange Whale Ratio dropped to a 12-day low of 0.43.
A drop in this metric indicates that fewer whales are sending their Bitcoin (BTC) to exchanges compared to the overall flow. Typically, a drop like this reflects substantial accumulation, with whales sending their Bitcoin (BTC) to personal wallets rather than preparing to sell.
This sentiment is particularly common among Bitcoin (BTC) MegaWhales. According to Checkonchain, MegaWhale and Exchange (>10,000 BTC) recorded a balance change of -20,360 BTC, indicating that withdrawals exceeded deposits. Large holders are accumulating, not selling.
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Analysis from AMBCrypto shows that Bitcoin (BTC) recently bounced due to a decrease in selling pressure while whale accumulation remained constant. As a result, the Crypto King’s Netflow went negative, reaching a low of -$128 million, a sign of aggressive accumulation.

If the whales continue to absorb supply, Bitcoin (BTC) could reclaim $117,000 and test $119,600. However, if the sellers return, Bitcoin (BTC) risks retesting the $112,000 support zone.

With reduced selling activity and accumulation actions by whales, the outlook for Bitcoin (BTC) price gains seems to be getting brighter.
Although there is a potential risk of sellers returning, the current trend shows that large holders prefer to keep their assets, which could be a positive indicator for future price trends. Market watchers and investors will continue to monitor this dynamic to make informed investment decisions.
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