Bitcoin is going through a challenging phase because although its price seems to be stable below $70,000, the reality is that behind-the-scenes pressure is escalating, especially for large investors known as 'whales'.
At the time of writing, Bitcoin is currently at $68,881, down 0.02% since it opened early Monday in Asian trading.
Latest data from Glassnode reveals that wallets holding between 100 and 10,000 BTC are now recording daily losses of over $200 million.
This pressure is also being felt by 'Long-Term Holders', investors who were previously known for their resilience.
Those who bought Bitcoin more than six months ago, especially when the price was at its peak, are now starting to capitulate or give up by selling at a loss.
This trend has become more pronounced since the end of 2025, indicating that confidence among experienced investors is also beginning to waver.
It is often part of a bear market cycle, where investors who cannot withstand the pressure will exit the market.
This process is known as a ‘flush-out’, which is a cleansing phase before the market finds stability again.
However, according to Glassnode analysts, the market has not yet reached the ‘selling fatigue’ level that usually marks the peak of the decline.
For that to happen, the daily loss rate would have to fall much lower, around $25 million.
At the same time, market sentiment is also showing significant signs of concern, leaning towards the negative.
According to Santiment, the element of FUD is back in control with more investors being pessimistic than optimistic. Factors such as geopolitical tensions and regulatory issues continue to weigh on price movements.
