Recently, $BTC has been under pressure, even though U.S. institutions continue to accumulate, and the Coinbase Premium remains positive. This interesting contrast highlights the changing dynamics in the market. The pressure on the price is primarily coming from Asia rather than the U.S., indicating a shift in the balance between global sellers and buyers.
Major Asian exchanges like Binance, OKX, and Bybit have seen persistent spot selling. This selling is largely from miners and long-term holders rather than retail investors. Miners are being forced to sell due to rising operational and energy costs. Technically, when miners are forced to liquidate their holdings, the network’s hash rate decreases, which can affect block production speed and transaction processing.
Recent data shows that the hash rate has dropped by approximately 8%, signaling stress among miners. This decrease indicates that the overall power of the mining network is declining, creating temporary downward pressure on prices as forced selling hits the market.
Long-term Asian holders are also distributing their Bitcoin. This trend adds limited supply to the market, which is being absorbed by continuous institutional buying. Technically, this is known as market “redistribution,” where large holders provide liquidity while institutions accumulate.
The situation suggests that there is no major crash occurring—only a shift in supply and demand. Prices will remain under pressure until the forced selling is fully absorbed by the market. Once this supply clears, institutional buying is likely to support renewed upward momentum.
Bitcoin’s current market behavior is an example of healthy redistribution rather than a crash. The interplay between miner and long-term holder selling and institutional buying provides a strong foundation for the market. Investors can use these technical signals and global selling patterns to make informed decisions.
