According to Odaily, CryptoQuant, a cryptocurrency analysis firm, reported on May 15th that despite a rebound in Bitcoin demand from the low point of the re-accumulation range, Bitcoin demand is back in 'acceleration mode' after experiencing a two-month downward trend. The firm stated that the growth of Bitcoin demand, which had been slowing since March, seems to be stabilizing. The total balance of Bitcoin held by long-term holders and large investors appears to be back in acceleration mode.
However, CryptoQuant added that Bitcoin demand needs to further accelerate to sustain this price increase. It also pointed out that the balance of Bitcoin on over-the-counter trading platforms is very low, indicating that demand is strong and exceeds the existing supply.
