This thread might have this years most relevant topic for many months yet. We are drifting across the 50 day average, today it marks the highs of the BTC price action on the 14th Jan. 50 day and monthly average have aligned in the same place more or less and its just over head.
Intra day action, we are now back above the weekly average and its just found that area as some short term support. All this adds up to confirm BTC despite staying under the 50 day average for its longest period in months is not really weak just apathetic for the moment.
Selling pressure comes from institutions and governments selling their assets. As I recall, some time ago in July, the German government started and 4 days ago on Friday, the US government also joined in selling 69,370 BTC that had been confiscated, but the good news is that yesterday Michael Saylor also just bought 2,530 BTC so the market is starting to move again, although another decline could occur at any time.