Heavy Sell-off! Bitcoin Demand Remains Under Pressure; Samsung Blockchain Technologies ETF (03171.HK) Drops Over 2% at Open

NewTimeSpace News: Recently, large holders known as "whales" in the market have decisively shifted from a long-term accumulation pattern to an aggressive net-selling mode. As a result,Samsung Blockchain Technologies ETF(03171.HK) opened down more than 2%.

Data shows that Bitcoin touched a cycle low of around $60,000 on February 6, representing a 52% decline from its October all-time high of $126,000. In comparison, the previous cycle saw a 77% drop from the 2021 peak of $69,000 to $16,000.

Samsung Blockchain Technologies ETF(03171.HK) tracks global blockchain-related companies. As Asia's first blockchain-themed ETF, it provides investors with a specialized investment vehicle to participate in the development of global blockchain technology. Through an active management strategy, the fund selects high-quality blockchain-related companies to capture industry growth opportunities.

According to data analytics platform CryptoQuant, despite increased institutional buying, Bitcoin demand remains under sustained pressure, indicating that the broader market continues to offload the token. As of the end of last month, the "Apparent Demand" metric—which measures Bitcoin demand relative to newly mined supply—stood at a negative value of approximately 63,000 coins. This situation emerged against a backdrop of strong buying periods from exchange-traded funds and continuous Bitcoin accumulation by Michael Saylor's digital asset firm, Strategy Inc. (MSTR.US).

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