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Analyst: Bitcoin Demand Slowing, Potential Support Area Near $92,000
Summary: According to CryptoQuant research director Julio Moreno, Bitcoin demand is showing signs of cooling off after a period of rapid increase and prices nearing $112,000. Spot demand is still growing but at a slower pace, currently below historical trends. Whale and ETF Bitcoin purchases have halved. Demand from new investors is also decreasing. In the ...
According to CryptoQuant research director Julio Moreno, Bitcoin demand is showing signs of cooling off after a period of rapid increase and prices nearing $112,000. Spot demand is still growing but at a slower pace, currently below historical trends. Whale and ETF Bitcoin purchases have halved. Demand from new investors is also decreasing. In the futures market, investors are taking profits and starting to build new short positions. If demand continues to weaken, Bitcoin may find support near $92,000, corresponding to traders' on-chain actual cost price, a typical support area during a bull market. If this support fails, the next support level may be around $81,000, close to the lower bound of traders' on-chain actual cost price.
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Link: Analyst: Bitcoin Demand Slowing, Potential Support Area Near $92,000 [Copy]
