Analyst: Selling pressure from those who bought BTC at high levels has significantly weakened.

PANews October 17 news: Analyst IT Tech posted that over the past 30 days, only 4.4% of BTC held for 6-12 months flowed into exchanges, compared with as high as 40.4% in mid-June. This BTC mainly came from holders who bought near or after the 2025 top. Monthly movement remained between 143,700 and 216,500 BTC, but the proportion flowing to exchanges continued to decline sharply:

Mid-June: 40.4%

Mid-July: 30.9%

Mid-August: 9.8%

Mid-September: 3.7%

Mid-October: 4.4%

The analysis suggests that high-level buyers have largely stopped selling, which has reduced resistance to price increases. However, the market still needs new buying to drive prices higher, and new buying has not yet clearly emerged.