🚨 $BTC demand is flashing another warning sign.
Yesterday, demand weakened further compared with the previous day, adding more pressure to Bitcoin’s ongoing downtrend.
Futures demand dropped significantly, while spot demand remained firmly negative. As a result, total demand has slipped back into negative territory.
Right now, spot demand is the key source of downward pressure. While futures demand remains positive, it hasn’t been strong enough to overcome weakness in the spot market.
A sustainable uptrend requires real buying pressure from the spot market. Until spot demand turns positive, the broader price action remains vulnerable to continued pressure.
No real uptrend without real spot demand. 📉
Yesterday, demand weakened further compared with the previous day, adding more pressure to Bitcoin’s ongoing downtrend.
Futures demand dropped significantly, while spot demand remained firmly negative. As a result, total demand has slipped back into negative territory.
Right now, spot demand is the key source of downward pressure. While futures demand remains positive, it hasn’t been strong enough to overcome weakness in the spot market.
A sustainable uptrend requires real buying pressure from the spot market. Until spot demand turns positive, the broader price action remains vulnerable to continued pressure.
No real uptrend without real spot demand. 📉
