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The analytics company reveals the true reason behind the decline in Bitcoin’s price! “Pay close attention to the $60,000 level”
The cryptocurrency analytics platform CryptoQuant, in its assessment of the recent selling pressure in the Bitcoin market, reported that the main actors behind the large transfers of funds to exchanges were not long-term investors, but large investors who had recently made purchases.
Blockchain data from the period when Bitcoin was trading at $65,800 show that 70.41% of the assets deposited on exchanges belonged to large investors. However, there is a significant divergence within this group.
According to the data, large investors who had recently started buying sent about 138,000 bitcoins to exchanges, accounting for nearly the entire current inflow. In contrast, the volume sent by large investors who had held Bitcoin for a long time remained quite limited at around 7,500 bitcoins. This picture suggests that the selling pressure in the market is coming more from investors who bought Bitcoin at higher prices and sold at a loss, rather than from profit-taking. Meanwhile, the total number of bitcoins on exchanges has increased by more than 32,000 since January, reaching 2.75 million bitcoins.
The main macroeconomic reason behind the selling pressure was the increase in global tariffs to 15%. Following this decision, risk aversion intensified in the markets, investors turned to gold, and Bitcoin lost its $65,000 support level, declining by 4–5% within 24 hours. The price drop led to the liquidation of leveraged positions worth hundreds of millions of dollars, pushing recently active large investors into a defensive stance.
According to CryptoQuant’s analysis, this “rush” to exchanges is driven more by the exit of new large investors incurring losses than by profit-taking from long-term holders. Macroeconomic uncertainty is accelerating this process, while the $60,000 level serves as critical short-term support. A slowdown in this strong inflow to exchanges in the near term will be crucial for the direction of Bitcoin’s price movement.
See also: "Small investors are buying Bitcoin while whales are reducing their holdings"
