Analyst: Bitcoin Whales' Selling Pressure Eased by MSTR Buying, Market Sentiment Remains Fragile

Odaily Planet Daily reports that crypto analyst Murphy posted a review of the past week’s market activity on the X platform. Monitoring shows abnormal fund flows in Bitcoin: on March 11 and 13, when BTC rebounded to $70,000–$71,000, a group of whale addresses (each holding over 1,000 BTC) sold 24,867 and 17,818 BTC respectively. The sell-offs on March 11 resulted in an average loss of 50% compared to the cost basis, while the March 13 sales incurred less than 10% loss.

Analysis indicates these coins were bought at lows in May–July 2025 and early April, with some exiting after significant losses and others timing the bottom precisely before moving out. Strategy bought back 22,337 BTC on March 17, absorbing most of the excess supply. Despite this, the event reflects that market sentiment remains extremely fragile, with investors holding BTC for nearly a year gradually losing patience. Future price rebounds could still trigger selling pressure from loss-motivated holders.