BlockBeats news, on June 22, CryptoQuant's research director Julio Moreno stated that Bitcoin demand is showing signs of cooling after a period of accelerated rise, with prices nearing $112,000. Spot demand is still rising, but the growth rate has slowed and is currently below historical trends. The Bitcoin purchasing volume by Whales and ETFs has halved. The demand from new investors is also declining. In the futures market, investors have recently chosen to take profits and begin establishing new short positions. If demand continues to weaken, Bitcoin may find support around $92,000, which corresponds to the on-chain actual cost price for traders, a typical support area during a bull run. If this support fails, the next support level may be at $81,000, close to the lower band of the on-chain actual cost price for traders.
The content is for reference only, not a solicitation or offer. No investment, tax, or legal advice provided. See Disclaimer for more risks disclosure.
Analyst: Bitcoin demand is slowing down, with potential support around $92,000.
BlockBeats news, on June 22, CryptoQuant's research director Julio Moreno stated that Bitcoin demand is showing signs of cooling after a period of accelerated rise, with prices nearing $112,000. Spot demand is still rising, but the growth rate has slowed and is currently below historical trends. The Bitcoin purchasing volume by Whales and ETFs has halved. The demand from new investors is also declining. In the futures market, investors have recently chosen to take profits and begin establishing new short positions. If demand continues to weaken, Bitcoin may find support around $92,000, which corresponds to the on-chain actual cost price for traders, a typical support area during a bull run. If this support fails, the next support level may be at $81,000, close to the lower band of the on-chain actual cost price for traders.