Analyst: Bitcoin’s spot buying demand remains weak; the market stays stable because sellers are exhausted, not because demand has recovered
In a recent X post, CryptoQuant analyst Darkfost said that Bitcoin is still in a relatively weak market condition.
In simple terms, whether it’s spot and futures demand, or even relying only on short-lived speculative strength, it’s difficult to form a sustained rebound trend.
This pattern is very similar to what occurred during the previous bear market, suggesting that the market still lacks stable demand support.
Therefore, for a sustainable market recovery to take place, spot and futures demand must reach a coordinated consensus, rather than being driven unilaterally by short-term momentum.
At present, the estimated 30-day combined demand increase for Bitcoin spot and perpetual futures is -127,000 BTC. This level of demand indicates that the market is still weak, with insufficient volume to kick off a new trend.
Darkfost further noted that the market’s current stability is more the result of seller sell-pressure running out, rather than a genuine recovery in demand.
While this is the first step in the recovery process, if it is not accompanied by panic selling at extremely low demand levels, the price correction may still continue.
In summary, although the current market has not shown panic selling, with extremely low trading volume and the BTC sideways consolidation that has persisted for months, if the market lacks demand to drive it, a pullback could intensify further.
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