On-Chain Data Signals Weak BTC Selling Pressure As Local Demand Recovers

Long-term holders cut off their sales over the past 30 days, with outflows falling to 276,000 BTC from 904,000 BTC in November.

Bitcoin surged higher this week, touching a one-month high of $74,000 as selling pressure in crypto markets eased. A report from on-chain analytics platform CryptoQuant said reduced supply from retailers and improving demand signals helped support the short-term rebound.

Another indicator of change is the change in the apparent demand for Bitcoin. According to the analytics company, the reduction in demand stood at about 136,000 BTC at the beginning of 2026. Since then it has dropped to around 25,000 BTC, indicating that the selling pressure in local markets has weakened.

Strong Support From Long-Term Managers Reduces Market Pressure

Another key signal came from the Coinbase Premium Index, which tracks price differences between Coinbase and offshore exchanges. The index moved to positive territory, which is often interpreted as strong buying interest from market participants based in the United States.

CryptoQuant also noted that many market participants are now holding unattainable losses similar to the levels seen in July 2022. At the same time, long-term holders significantly reduced their sales over the past thirty days. Their combined output fell to around 276,000 BTC, far below the 904,000 BTC recorded in November.

The reduction marks the lowest monthly outflows from long-term holders since June 2025 and helps ease supply pressure. Reduced sales from this group tend to limit rapid declines in the market during uncertain times.

Despite the rebound, analysts warned that Bitcoin could face resistance near the $79,000 level if the momentum continues. The highest ceiling could be around $90,000, which corresponds to the wide availability of active market participants and previously limited benefits earlier this year.

Market Optimism Remains Cautious Despite Recent Recession

Broader sentiment indicators remain weak despite recent price moves, according to CryptoQuant market data. Its Bull Score Index currently stands near 10 out of 100, indicating moderate bullish signals.

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The statistical platform describes the move as a rally rather than a continuous upward cycle. It warns that macroeconomic pressures and a sense of caution may still dampen progress in the near term.

CryptoQuant also notes that broader global credit conditions and interest rate expectations continue to shape demand for digital assets around the world. These factors may influence market behavior and determine whether the current rally can continue in the coming months.