According to ChainCatcher, CryptoQuant analyst IT Tech said selling pressure on altcoins in spot exchanges has reached an extreme level not seen in five years. The spot market has recorded net selling for 15 consecutive months, indicating sustained sell-side pressure across altcoins outside the largest assets.
Altcoin buy-sell volume gap falls to record negative level
IT Tech noted that the cumulative buy-sell volume difference for altcoins excluding BTC and ETH has fallen to the lowest negative reading since data records began in 2020. The indicator tracks the gap between buying volume and selling volume, and the current reading remains deeply negative.
The same metric was close to flat in early 2025, before turning sharply negative again and continuing to decline up to now. Based on the analysis cited by ChainCatcher, the net-selling condition in the altcoin spot market has lasted for more than a year rather than appearing as a single-month fluctuation.