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CryptoQuant: Bitcoin Demand Shrinks and Breaks Key Moving Average, Entering Bear Market Cycle
Summary: According to CryptoQuant, Bitcoin demand has significantly slowed since October 2025, indicating that Bitcoin has entered a new bear market cycle. Analysts point out that the three waves of investment demand in this cycle (spot ETF approval, 2024 US election, corporate financial asset allocation bubble) have been largely exhausted. In the fourth quarter, ETF holdings ...
According to CryptoQuant, Bitcoin demand has significantly slowed since October 2025, indicating that Bitcoin has entered a new bear market cycle. Analysts point out that the three waves of investment demand in this cycle (spot ETF approval, 2024 US election, corporate financial asset allocation bubble) have been largely exhausted. In the fourth quarter, ETF holdings decreased by about 24,000 BTC, and perpetual contract funding rates dropped to the lowest level since December 2023. In addition, the Bitcoin price has fallen below the 365-day moving average of around $98,172, which is a key dynamic support level for the asset. While some analysts hold expectations for a price rebound driven by a rate cut in 2026, the current market sentiment is in a state of fear, with only 22.1% of investors expecting a rate cut at the January FOMC meeting.
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Link: CryptoQuant: Bitcoin Demand Shrinks and Breaks Key Moving Average, Entering Bear Market Cycle [Copy]
