Bitcoin: Whales, retailers take different approaches as BTC struggles
Bitcoin [BTC] has experienced positive price trends over the last few days but hasn’t stopped retail investors from selling off their holdings.
Despite the price increase, retail traders continue offloading their BTC, while institutional investors have been quietly accumulating.
Bitcoin whales continue accumulating
Recent data from CryptoQuant revealed that while retail investors have been selling, institutional wallets have been accumulating Bitcoin.
Over the past 30 days, institutional wallets have amassed over 67,000 BTC. The accumulation brought their total holdings to over 3.9 million BTC.
The sell-off by retail investors is likely due to the sideways price movement that Bitcoin experienced in previous weeks before the recent uptrend.
These price stagnations often lead retail investors to lose confidence and sell their holdings, anticipating buying back at higher prices once market sentiment improves.
On the other hand, institutional players accumulating during the downturn are expected to distribute their BTC when the price increases.
Ongoing selling pressure
AMBCrypto’s analysis of the Bitcoin Chaikin Money Flow (CMF) showed that selling pressure continued to dominate despite the recent price rise.
As of this writing, the CMF stood at around -0.04, indicating slightly more selling pressure than buying pressure
A negative CMF suggests that Bitcoin is still being distributed, with more sellers than buyers in the market.
When the CMF is below zero, it signals that selling activity is stronger than buying, which can create downward pressure on the price.
If the CMF moves back into positive territory, it would confirm that buying pressure is increasing, potentially supporting further price growth.
However, if the CMF remains negative or falls further, it could indicate a weakening buyer interest, leading to possible price consolidation or even a pullback in the coming days.
