BTC this wave is more like “selling pressure is loosening,” not that the buying side suddenly got stronger.
BlockBeats cites CryptoQuant analyst Darkfost’s assessment: over the past 30 days, net spot demand is still -180,000 BTC. While the average demand has improved from -188,000 BTC to -126,000 BTC, it has not turned positive yet. Meanwhile, futures demand is +54,000 BTC, showing a slight decline. Prices are rising, but demand hasn’t kept up—this is the core divergence.
What’s more worth watching is the stabilizing (backstop) force: ETFs have recently net bought about 70,000 BTC. In September, trading platforms have mostly seen net outflows, suggesting near-term selling pressure is easing. For holders, this structure looks more like price stabilization; for chase-buyers, true confirmation still depends on whether spot demand can turn positive and whether trading volume can continue to expand. Are you more focused on ETF reflows, or on trading platforms continuing to see net outflows?
Figure 1: BTC rebound has a backstop, but the bid hasn’t strengthened · source: partial screenshot from the page
Image source: https://www.theblockbeats.info/flash/368592
BlockBeats cites CryptoQuant analyst Darkfost’s assessment: over the past 30 days, net spot demand is still -180,000 BTC. While the average demand has improved from -188,000 BTC to -126,000 BTC, it has not turned positive yet. Meanwhile, futures demand is +54,000 BTC, showing a slight decline. Prices are rising, but demand hasn’t kept up—this is the core divergence.
What’s more worth watching is the stabilizing (backstop) force: ETFs have recently net bought about 70,000 BTC. In September, trading platforms have mostly seen net outflows, suggesting near-term selling pressure is easing. For holders, this structure looks more like price stabilization; for chase-buyers, true confirmation still depends on whether spot demand can turn positive and whether trading volume can continue to expand. Are you more focused on ETF reflows, or on trading platforms continuing to see net outflows?
Figure 1: BTC rebound has a backstop, but the bid hasn’t strengthened · source: partial screenshot from the page
Image source: https://www.theblockbeats.info/flash/368592
