BTC buying pressure wanes amid 34K BTC in potential sell-offs

Selling pressure on Bitcoin is mounting from exchange inflows and spot ETF outflows amid slowing spot demand, according to analysts. On-chain analyst Axel Adler Jr. noted that weekly BTC deposits to exchanges have recently increased by approximately 18,000 BTC, a move he interprets as preparation for selling rather than accumulation, Cointelegraph reported. He added that spot BTC ETFs saw net outflows of around 16,000 BTC over the same period. With institutional capital failing to absorb this supply, risk-off sentiment is growing, creating a combined potential selling pressure of about 34,000 BTC from these two sources, Adler explained. Separately, Glassnode analyst CryptoVizArt pointed out that daily trading volume for spot BTC ETFs has recently fallen below $20 billion, less than half the $50 billion level seen at the end of last year. This signals that speculative buying demand for BTC is weakening and that the market's ability to absorb spot supply has diminished, even during rallies, he said.