According to Julio Moreno, an analyst at CryptoQuant, Bitcoin demand is recovering at its fastest pace since April 2022, as shared on October 12 via the X platform.
While momentum remains negative, meaning that selling pressure still outweighs buying, the imbalance has begun to narrow. This indicates that selling is slowing, and demand is steadily increasing, signaling the potential for a shift in market sentiment.
Easing Selling Pressure
The gradual improvement in demand suggests that Bitcoin could enter a consolidation phase, where buying activity may soon outpace selling. If this trend continues, it could lay the groundwork for a more sustained rally.
