It has been a tough week for the alpha dog of crypto and analysts aren’t so sure when the beating will stop.

Bitcoin hovered a little over $90,000 on Wednesday while Ethereum traded around $3,041, showing sharp moves after a rough week.

Over the past seven days, Bitcoin fell more than 12% and Ethereum dropped about 11%, according to market updates. Traders and analysts say the swings reflect both on-chain activity and wider macro pressure.

Long-Term Holders Rotate

According to CryptoQuant CEO Ki Young Ju, much of the recent price action reflects long-term holders moving coins between each other and into new hands.

He said older Bitcoin holders have been selling into buyers from traditional finance, including spot ETF vehicles and corporate treasuries, which then hold the assets f

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