Bitcoin Demand Drops Below -2M as Momentum Hits Record

Bitcoin Demand is Drying Up, What Does This Mean? (CryptoQuant)

As bitcoin (BTC) attempts to recover from the effects of tensions in the Middle East, demand for the digital asset is drying up. Market experts from the on-chain intelligence company CryptoQuant have discovered that Bitcoin demand is entering a slowdown period. According to the latest CryptoQuant weekly report, the decline in Bitcoin demand comes after a period of acceleration that pushed the price of BTC towards $112,000. Demand-momentum metric…

Bitcoin Demand Drops Below -2M as Momentum Hits Record

Bitcoin demand momentum is now the lowest ever recorded and price is still holding near cycle highs. This signal shows long term holders are reducing while short term supply continues to increase steadily. Negative momentum lasting this long suggests risk is building while buyers are not entering in large numbers. Bitcoin’s spot demand momentum is now the most negative ever recorded, signaling growing weakness in short-term investor interest. Ac…