Bitcoin faces a key test of its market structure as large holders shift from accumulation to distribution. Addresses holding between 1,000 to 10,000 BTC have become net sellers, with whale holdings declining by 188,000 BTC over the past year. This structural selling pressure is compounded by increased withdrawal activity to exchanges and sales from entities like Riot Platforms. All attention is now on the $62,000 to $65,000 demand zone, which will determine if the broader bullish structure can be preserved.
Recent data indicates a clear shift in whale behavior as large holders are no longer accumulating. Addresses holding between 1,000–10,000 BTC have flipped to net sellers, with holdings declining by 188,000 BTC over the past year.
The 365-day trend indicates a structural shift, signaling structural selling pressure. This is not limited to long-term holders, as withdrawal activity to exchanges has surged sharply among short-term holders and traders.
Additional sell-side pressure emerged as mining firm Riot Platforms recently sold another 500 BTC worth roughly $34.13 million. Such moves add to circulating supply and reinforce downside pressure when combined with whale distribution.
Bitcoin is currently trading near a key demand zone between $62,000 and $65,000. This level has previously served as a support base where buyers have entered.
If this zone holds, it could absorb the ongoing sell pressure and preserve the broader bullish structure. A breakdown would signal that selling pressure has overwhelmed demand, potentially triggering a deeper correction phase.
As a result, Bitcoin is at a critical point as all eyes are on the $62,000–$65,000 zone. Strong spot demand at this level could stabilize BTC’s price and trigger a rebound.
