Analysis: BTC selling pressure grows, led by retail investors

As Bitcoin consolidates around the $70,000 level, on-chain indicators suggest that overall selling pressure is expanding, according to an analysis by Glassnode reported by CoinDesk. The firm noted that Bitcoin holders have shifted back to a selling trend amid ongoing geopolitical tensions in the Middle East, with the sell-off being particularly pronounced among smaller wallets associated with retail investors. Glassnode's Accumulation Trend Score is currently at 0.4, indicating that selling pressure is intensifying. The metric evaluates Bitcoin accumulation by wallet size over the past 15 days. The analysis found strong selling pressure from addresses holding between one and 10 BTC, with significant selling also confirmed in the 10-100 BTC range. While addresses holding over 1,000 BTC are also showing a net selling trend, the intensity is relatively lower compared to that of smaller investors, Glassnode explained.