Long-term holders have reduced their selling over the past 30 days, with outflows falling to 276,000 BTC from 904,000 BTC in November.
Bitcoin rallied this week and hit a one-month high of $74,000 as selling pressure eased in crypto markets. A report by chain analytics platform CryptoQuant said supply cuts from retailers and improving demand signals contributed to the short-term recovery.
One indicator of change is the change in spot demand for Bitcoin. According to the analysis company, the drop in demand at the beginning of 2026 was about -136,000 BTC. It has since fallen to around -25,000 BTC, indicating that the selling pressure in the spot markets has eased.
Strong support from long-term owners eases market pressure
Another key signal came from the Coinbase Premium Index, which tracks price differences between Coinbase and offshore exchanges. The index moved into positive territory, which is often interpreted as strong buying interest from market participants in the United States.
CryptoQuant also noted that many market participants are now experiencing the unexpected losses seen in July 2022. At the same time, long-term holders have sharply reduced their sales over the past thirty days. Their combined withdrawals fell to around 276,000 BTC, down from 904,000 BTC recorded in November.
The decline would mark the lowest monthly flow from long-term holders since June 2025 and help ease supply pressure. The low sales of this group often limit the downward momentum in the market during uncertain periods.
Despite the recovery, analysts warn that Bitcoin could soon face resistance near the $79,000 level if the momentum continues. A higher limit could be found around $90,000, which corresponds to a wider price range for active market participants and the gains previously capped earlier this year.
Despite the recent return of optimism, the market remains cautious
According to CryptoQuant market data, broader sentiment indicators remain weak despite recent price action. The Bull Score Index is currently near 10 out of 100, reflecting limited bullish signals.
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The analytics platform describes the move as a relief rally rather than a sustained uptrend. It warns that macroeconomic pressures and cautious sentiments may limit further developments in the near term.
CryptoQuant also notes that broader global liquidity conditions and interest rate expectations will continue to shape demand for digital assets worldwide. These factors can influence market behavior and determine whether the current recovery can continue in the coming months.
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