CryptoQuant: Bitcoin continues to be sold in the diaspora, and the whale is absorbing the pressure

On 18 July, according to CryptoQuant data, demand for Bitcoin (BTC) fell even further yesterday than the previous day, with negative demand coming mainly from the spot market, where the pressure to sell continued. However, the data show that the number of bitcoin inflows to “cumulative addresses” is increasing, indicating that part of the sales is being absorbed by long-term holders. There has been an ongoing outflow of funds from the spot market since last November, but whale investors are taking over these sales. The analysis suggests that when the spot demand for bitcoin returns to positive value, the market may be on a strong upward trend。