The post Bitcoin: A structural shift is underway for BTC – Pressure builds under the surface appeared on BitcoinEthereumNews.com.
Current market conditions for Bitcoin [BTC] reflected tight consolidation and muted volatility, yet underlying pressure continues to build beneath the surface. Bitcoin traded within a sideways to bearish consolidation at press time, as loss realization dominated. Short-term holder outflows remained deeply negative across sessions, implying recent buyers were selling at losses, creating heavy price resistance. A major capitulation spike near -80,000 BTC in early February aligned with a sharp drop from around $90,000 toward $65,000, highlighting forced selling. Although flows later eased, they still hovered near -28,200 BTC, which signaled persistent stress. Source: CryptoQuant At the same time, only 4.9% of the STH supply remains in profit, while the STH-MVRV at 0.7 kept recent buyers underwater, sustaining sell pressure. Source: Glassnode Meanwhile, aggregate NUPL remained positive, showing long-term holders retained strong unrealized profits. As the trend holds, structure stays intact, yet ongoing STH selling continues to cap recovery and delay a breakout. Whale stability signals absorption as weak-hand selling intensifies As short-term holders continue to realize losses and exit positions, attention shifts toward who is absorbing this supply. Notably, large holders are not selling into this pressure, which signals restraint. Meanwhile, balances in the 10,000 to 100,000 BTC cohort remain near 3.5 million BTC, showing little deviation. Similarly, the 100,000 to 1 million group holds around 920,000 BTC, maintaining steady exposure. Source: Joao Wedson/X Despite price swings from below $1,000 to above $100,000, these balances barely move, which reflects deliberate holding rather than distribution. Source: Joao Wedson As weaker hands capitulate, this lack of outflows suggests whales see current levels as unattractive for selling. Instead, they maintain their exposure, absorbing supply from stressed sellers without further destabilizing the price. This behavior explains why downside follow-through remains limited. Selling exists, yet it fails to trigger broader liquidation cascades. In effect, the…
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