Selling pressure from other market participants is offsetting incremental institutional buying and sustaining the current wave of distribution.
Under the current crypto market conditions, Bitcoin exchange-traded funds (ETFs) and some institutions are still in accumulation mode. However, spot demand remains weak. Market research platform CryptoQuant explained why this contraction has persisted in its latest weekly report.
According to the firm’s findings, spot demand has remained in deep contraction because broader market selling pressure outweighs institutional buying. Selling from retail and other market participants is more than offsetting incremental institutional…
