Crypto markets have seen a significant rally in recent days, with#Bitcoin(BTC) recovering some of its earlier losses, cheering investors and boosting optimism. However, despite this recovery, there is still clear selling pressure casting a shadow over the market.

According to CryptoQuant CEO Ki Young-joo, the pressure is mainly coming from “old whales” who have been holding large amounts of Bitcoin for a long time. These whales typically make their sales via high-volume over-the-counter (OTC) transactions or through major exchanges. While these moves are impactful, Ki Young-joo noted that they have so far not changed the overall market trend.