#BTC $BTC
Bitcoin is back above 82,000. Who’s been buying this rally? 🤔
Current price: 82,795. Today’s low: 80,684, up 2.6% from the low.
CryptoQuant’s data from this evening put a bit of a damper on the rebound:
🔹 30-day spot demand had nearly reached zero, and has now turned negative again
🔹 Perpetual futures are doing most of the work supporting overall demand
🔹 BTC reserves on exchanges rose from around 2.67 million in early October to about 2.68 million, an increase of roughly 10,000 BTC, worth around $800 million at the current price
🔹 Addresses holding 100–1,000 BTC have been net buyers over the past 60 days, while those holding more than 10,000 BTC have been net sellers
In other words, this 2.6% gain was probably driven by futures, while spot buying hasn’t caught up yet.
Does the increase in reserves mean someone’s about to dump?
Not necessarily. CryptoQuant itself noted that coins transferred to exchanges may simply reflect custody adjustments. Rising reserves alone don’t prove that selling is underway.
Keep an eye on two things next 👇
1️⃣ Whether 30-day spot demand can turn positive
2️⃣ Whether there’s enough buying demand to absorb the coins flowing back to exchanges
I’m not chasing prices above 82,000, and I’m not going short just because of one report. I’ll wait for the spot data to turn first.
Are you holding spot in this rally, or are you only trading futures?
For reference only. Not investment advice. DYOR.
#比特币 #CryptoQuant #链上数据
Bitcoin is back above 82,000. Who’s been buying this rally? 🤔
Current price: 82,795. Today’s low: 80,684, up 2.6% from the low.
CryptoQuant’s data from this evening put a bit of a damper on the rebound:
🔹 30-day spot demand had nearly reached zero, and has now turned negative again
🔹 Perpetual futures are doing most of the work supporting overall demand
🔹 BTC reserves on exchanges rose from around 2.67 million in early October to about 2.68 million, an increase of roughly 10,000 BTC, worth around $800 million at the current price
🔹 Addresses holding 100–1,000 BTC have been net buyers over the past 60 days, while those holding more than 10,000 BTC have been net sellers
In other words, this 2.6% gain was probably driven by futures, while spot buying hasn’t caught up yet.
Does the increase in reserves mean someone’s about to dump?
Not necessarily. CryptoQuant itself noted that coins transferred to exchanges may simply reflect custody adjustments. Rising reserves alone don’t prove that selling is underway.
Keep an eye on two things next 👇
1️⃣ Whether 30-day spot demand can turn positive
2️⃣ Whether there’s enough buying demand to absorb the coins flowing back to exchanges
I’m not chasing prices above 82,000, and I’m not going short just because of one report. I’ll wait for the spot data to turn first.
Are you holding spot in this rally, or are you only trading futures?
For reference only. Not investment advice. DYOR.
#比特币 #CryptoQuant #链上数据