If the rate of accumulation is rising, why is the price of Bitcoin still declining?

Although accumulation has started to gradually return and the distribution of coins by weak investors has decreased, this is still not enough to overcome the ongoing profit-taking pressure from long-term Bitcoin holders.

These old holders, who have significant gains, continue to sell part of their holdings to realize profits, leading to an increase in supply and limiting upward momentum — at least for now.

Unless demand from new buyers or strong-willed accumulators significantly outweighs this selling pressure, Bitcoin may remain under short-term downward pressure, despite underlying bullish signals.