Bitcoin Bears Slow as Whale Accumulation Eases Sell-Off, BTC @ $69,600

Bitcoin’s aggressive sell-off is decelerating as on-chain activity signals easing downward momentum, though a trend reversal remains unconfirmed. Bitcoin is down 44% from its October 6 all-time high of $126,080, trading around $69,600 on CoinGecko. Key indicators show reduced selling pressure: the share of supply at a profit fell to 55% per Glassnode, and accumulation addresses bought 54,458 BTC in the spot market on Feb 6 according to CryptoQuant. The negative spot cumulative volume delta of -$327 million reflects historically seller exhaustion rather than fresh distribution. However, policy uncertainty, tight liquidity, and subdued ETF and institutional flows continue to weigh on sentiment. “Whale accumulation primarily stabilizes price ranges rather than initiating a trend reversal,” said Tim Sun of HashKey Group. “Any further recovery will hinge on institutional buying and easing macroeconomic tensions.”