Supply pressure in the cryptocurrency market is intensifying amid a growing influx of large investors and persistent weak spot demand. This trend has been highlighted by contributors to the CryptoQuant platform and analysts at XWIN Japan. According to their observations, the structure of the Bitcoin market is beginning to change noticeably. Experts have recorded an increase in the Whale Inflow Ratio on the Binance exchange, which reflects a significant share of large transactions in the overall inflow of funds to the trading platform. Analysts emphasized that deposits to exchanges do not necessarily mean an immediate sale, but they do increase the number of coins available for trading or hedging. XWIN Japan also noted that the exchange reserves of the first cryptocurrency have turned upward, and the spot cumulative volume delta for large investors has shifted from the buying zone to the neutral zone.

According to experts, the key question is not just whether large players are selling their assets, but whether there is enough spot demand to absorb the Bitcoin returning to the exchanges. If the inflows of large holders and exchange reserves continue to grow, and the cumulative volume delta moves into the selling zone, the pressure on the price of the first cryptocurrency may significantly intensify. Meanwhile, a technical analyst using the pseudonym Crypto Dan criticized market participants’ attempts to catch the absolute bottom of Bitcoin. He noted that in a prolonged bear market, the average cost basis of holders begins to gradually decline due to profit‑taking by those who entered at higher prices and the transfer of coins to stronger participants. According to him, in this phase, gradual accumulation can be beneficial over the long term, and the window of opportunity is usually open longer than the market expects, but it is precisely then that most participants exit it.

At the time of preparing this material, the first cryptocurrency was trading at $63,400, having fallen by three percent over the week. This dynamic reflects the general caution of investors and the ongoing uncertainty regarding the market’s future trajectory. It should be recalled that on August 12, analysts from Glassnode warned of the risk of a deeper pullback in Bitcoin to the level of $58,500. Market participants continue to closely monitor the behavior of large holders and the dynamics of spot demand in order to assess the prospects for the end of the current bearish phase and the formation of a stable upward trend.

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The material was prepared solely for informational and educational purposes and does not constitute financial advice or a recommendation.