Bitcoin Sell Pressure Weakens as Spot Demand Recovers

Generally, I think it is time to be optimistic about Bitcoin. Obviously, the start of 2026 saw a big drop in spot demand, like around 136,000 BTC, but by the end of the month it was more like 25,000 BTC. Normally, this kind of thing would make me nervous, but in this case I am feeling pretty good about it. Clearly, buyers are getting back in the game, and that is a good sign.

Spot demand narrows

Basically, the spot market is looking better, and that is because people are buying again. Usually, when people are buying, the price goes up, and that is what we are seeing now. Already, the gap between buyers and sellers is getting smaller, and that is a good thing. Probably, this trend will continue, and we will see the price of Bitcoin go up even more.

Long‑term holders pull back

Recently, the Coinbase Premium Index has been positive, which means that traders in the US are paying a little more for Bitcoin than traders in other countries. Usually, this is a sign that demand is increasing, and that is what we are seeing now. Obviously, this is a good thing, and it could mean that the price of Bitcoin will go up even more.

Bullish metrics remain muted

Honestly, even though the price of Bitcoin has been going up, most people are still not very optimistic. Generally, the CryptoQuant Bull Score is still pretty low, like around 10 out of 100, which means that there are not many bullish signs. Probably, this means that the price of Bitcoin will not go up too much, and we might see some resistance around $79,000.

Macro backdrop

Actually, the Bitcoin market is part of a bigger picture, and we have to look at the whole thing to understand what is going on. Usually, global liquidity and interest rates are a big part of this, and they can affect demand for Bitcoin. Hopefully, these things will calm down soon, and the market will be more stable.

Conclusion

Ultimately, I think Bitcoin is doing okay, and the price has gone up to $74,000 because of a few things, like less sell pressure and more buying in the US. However, we still have to be careful, because sentiment metrics and macro headwinds could limit the upside soon. Normally, I would say to watch out for resistance around $79,000, and to keep an eye on liquidity cues to see if the bounce lasts or fades into volatility.