Small and Mid-Size Bitcoin Holders Ramp Up Selling Amid Reports Of Price Near $70k–$71k

On-chain data from Glassnode shows intensified selling across wallet sizes, driving the platform’s Accumulation Trend Score down to around 0.04 — a signal of deep net distribution across the network.

“Bitcoin holds above $71,000, defying rising dollar, oil and U”

@coindesk

Wallet cohorts typically associated with retail investors have been the main source of this pressure: "Wallets holding 1–10 BTC and 10–100 BTC are in heavy distribution, according to Glassnode data, driving the overall Accumulation Trend Score down to 0.04."

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The reporting frames the shift as occurring amid persistent geopolitical tensions and macro headwinds, even as market observers note continued relative price resilience.

The cohort breakdown highlights retail-led distribution but also shows selling among larger holders: "Wallets holding 1 to 10 BTC, typically associated with retail investors, are in heavy selling mode,"

and "Entities holding 10 to 100 BTC are also distributing at a significant pace."

CoinDesk

Even very large wallets are not immune: "Wallets holding 1,000 BTC or more are also net sellers, though the intensity of their selling is less severe than that seen among smaller cohorts."

At the same time, corporate and institutional flows can differ — for example, Strategy (MSTR) moved to add to its bitcoin exposure, buying roughly 11,000 BTC and seeing its shares rise after that acquisition.

Price has held near the $70,000 area even as selling intensified, with coverage noting that "bitcoin continues to hold in the $70,000 area, outperforming stocks and gold since the Iran war began."

“Bitcoin holds above $71,000, defying rising dollar, oil and U”

@coindesk

Outperformance is echoed in market commentary that bitcoin "has remained resilient and is among the best-performing macro assets since the war began on March 1,"

underscoring how on-chain selling and macro pressures have not pushed price decisively below that level during the reported period.

Macro factors likely contributed to the selling pressure: the Dollar Index topped 100 for the first time since late November, and oil prices were noted as "hovering around $100 per barrel," conditions that "typically weigh on risk assets."

Market analysts emphasised that "A stronger dollar can tighten global financial conditions and often weighs on risk assets such as equities and cryptocurrencies,"

CoinDesk

while higher oil prices "reinforce inflation concerns and heighten expectations of interest-rate increases."

Those cross-currents — on-chain retail distribution, institutional flows, and macro tightening — together frame why smaller and mid-size holders accelerated selling even as the headline price held near $70k.