Analysts at CryptoQuant have reported the presence of four significant indicators that suggest a bearish phase in the Bitcoin market as of January 2026. Experts are highlighting a decrease in demand, the activity of large investors, and the behavior of American investors on the Coinbase platform.
This is reported by Finway
Changes in the Behavior of Major Players and Net Demand
According to CryptoQuant, the net demand indicator for Bitcoin has entered the “red” zone, indicating a shift in market sentiment. This occurred after a period of growth observed in mid-2025. Such dynamics suggest that long-term investors are currently selling more Bitcoins than the market can absorb. There is also a noted decrease in the volumes held in wallets containing between 1000 and 10,000 BTC, which has turned negative for the first time in the past year. This is interpreted as profit-taking by the largest market players.
Additionally, holders of 100 to 1000 BTC are also reducing their positions: the 30-day percentage change has become negative, indicating a shift from a holding strategy to active selling.
Coinbase Premium and Low Demand Among American Investors
Experts are paying particular attention to the Coinbase Premium indicator, which shows a significant decrease in demand from American investors, including institutional ones. This adds to the overall negative picture in the market.
“In summary, all four indicators currently demonstrate a bearish convergence: institutional demand in the U.S. is weak, overall demand is negative, and whales are in a selling phase,” the analysts concluded.
Analysts at QCP Capital have also previously noted that Bitcoin remains under pressure due to geopolitical tensions. At the time of this report, the price of Bitcoin is fluctuating around the $89,500 mark.
