Bitfinex says BTC selling pressure persists as market braces for downside

Bitcoin is facing strong selling pressure from increased exchange deposits by large whales and continued outflows from spot ETFs, with both options markets and on-chain indicators preparing for downside risk, Bitfinex said in a weekly report. The report noted that market uncertainty has increased following a Supreme Court ruling against U.S. President Donald Trump's tariff policy. According to the report, large holders account for 64% of inflows to exchanges, and spot ETFs have seen a net outflow of $2.6 billion this year. Bitfinex added that recent inflows are not enough to be considered a trend reversal. "From a medium-term perspective, the key resistance level appears to be $78,000, with support at the realized price of $53,000," the report concluded.