[CryptoQuant: Retail Investors Continue Selling Bitcoin, Whales Absorbing Selling Pressure] BlockBeats News, July 18, according to CryptoQuant data, Bitcoin (BTC) demand further declined yesterday compared to the previous day, with negative demand primarily coming from the spot market. Selling pressure in the market remains ongoing. However, data shows that the number of Bitcoin flowing into 'accumulation addresses' is increasing, indicating that some of the sold tokens are being absorbed by long-term holders. Currently, the spot market has experienced continuous capital outflows since November last year, but whale investors are taking over these sell-offs. Analysts believe that when Bitcoin spot demand turns positive again, the market may see a strong upward trend.