Bitcoin Demand Drops Into Negative Territory Amid Price Slump
A recent research report by the onchain analytics platform Cryptoquant noted that the demand for Bitcoin (BTC) has dropped into negative territory. The platform also highlighted the unwavering conviction among long-term holders, which is undoubtedly a positive for the flagship crypto. Bitcoin’s Demand On The Decline Cryptoquant stated that the demand for the flagship crypto […]
Related News
Bitcoin prices are consolidating around $111,000 following the heavy market losses on October 10, due to a trade war between the US and China. The asset’s price is presently down by 9.45% on its weekly chart and also 12.16% away from its all-time high amidst this corrective phase. Related Reading: Bitcoin Whale Activity Reflects Sustained Confidence As $163K Comes In Sight — Details Bitcoin Logs First Negative Apparent Demand Flip Since July In an X post on October 11, popular market analyst Ali Martinez shares on-chain data that shows that Bitcoin’s apparent demand has recently flipped....
Bitcoin’s recent price action may be showing its first signs of relief as a closely watched indicator tied to US demand has just changed direction. The Coinbase Premium Gap has moved back into positive territory following nearly 10 weeks of persistent negative readings, a stretch that coincided with Bitcoin’s decline from around $95,000 to below $65,000 in February. Coinbase Premium Turns Positive The Coinbase Premium Gap, which measures the price difference between Bitcoin on Coinbase, the primary exchange for US-based institutional and retail investors, and its price on offshore....
The broader cryptocurrency market is witnessing one of the largest pullbacks in the cycle, as evidenced by Bitcoin’s price decline from its current all-time high of $126,000. BTC’s price is now hovering around $83,000. While the ongoing bearish price performance persists, it is now extending into several key metrics, impacting its market dynamics. A Signal […]
Despite Bitcoin (BTC) gaining notable traction over the past week – rising from approximately $85,000 on April 21 to nearly $95,000 today – the top cryptocurrency’s Demand Momentum remains significantly subdued, signalling caution among investors. Bitcoin Demand Momentum Continues To Be In Negative Zone According to a recent CryptoQuant Quicktake post by analyst Crazzyblockk, Bitcoin’s 30-day Demand Momentum is still firmly in negative territory. Currently, the 30-day Demand Momentum stands at around -483,860 BTC, while the 30-day Simple Moving Average (SMA) of the same metric....
As Bitcoin (BTC) edges closer to the psychologically significant $100,000 milestone, several technical and on-chain indicators suggest that a major breakout could be on the horizon. One such metric – Bitcoin’s Apparent Demand – has shown a strong rebound, signalling renewed interest and sustained accumulation in the market. Bitcoin Sees Sharp Rebound In Apparent Demand According to a recent CryptoQuant Quicktake post, contributor IT Tech pointed to a significant rise in BTC’s Apparent Demand. Most notably, this key indicator has returned to positive territory after spending....