On-chain data from Glassnode and CryptoQuant shows large holders dominating exchange inflows while short-term investors continue to sell at a loss, pointing to a fragile base-building phase.
source https://www.coindesk.com/markets/2026/02/23/bitcoin-slides-4-to-usd65-000-as-whale-selling-grows-and-recent-buyers-lock-in-losses
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