According to glassnode, Bitcoin’s price continues to decline even as accumulation shows signs of recovery because the pace of new buying has not been strong enough to counteract the selling pressure from older holders taking profits. Glassnode’s latest analysis highlights that while distribution by large holders is slowing, the level of accumulation is still insufficient to stabilize or push BTC higher, keeping downward pressure on the market (source: glassnode, June 6, 2025). This dynamic is critical for traders monitoring on-chain flows, as it signals that current inflows are not offsetting realized profit-taking, which could prolong bearish momentum unless accumulation significantly increases.