TechFlow News, April 2: According to a report by The Block, CryptoQuant stated that spot demand for Bitcoin remains in a state of “severe contraction.” As of the end of March, 30-day apparent demand declined by approximately 63,000 BTC, with market selling pressure persisting stronger than buying pressure.
“Whale” addresses holding between 1,000 and 10,000 BTC have turned into net sellers. Over the past year, their net holdings have decreased by roughly 188,000 BTC, and the 365-day simple moving average continues to trend downward—CryptoQuant views this distribution phase as structurally driven. The Coinbase Premium Index also remains persistently negative, indicating U.S. investors have yet to return to the market en masse.
CryptoQuant noted that if macroeconomic conditions improve—particularly if geopolitical tensions between the U.S. and Iran ease—Bitcoin could rebound in the short term to the $71,500–$81,200 range. The upper bound of approximately $81,200 corresponds to the traders’ realized price and represents resistance from the January 2026 bear-market rally.
