Bitcoin Spot Demand Growing For First Time Since Early October: CryptoQuant Head
CryptoQuant’s head of research has revealed how the “Apparent Demand” metric is now showing growth for the first time in more than a month. Bitcoin Apparent Demand Has Flipped Positive Recently In a new post on X, Julio Moreno, head of research at on-chain analytics firm CryptoQuant, has talked about the latest trend in the Apparent Demand for Bitcoin. This metric measures, as its name suggests, the amount of spot demand that’s currently present for the cryptocurrency. Related Reading: XRP To $10? Analyst Reveals What Could Be The Spark The indicator’s value....
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Bitcoin’s price has struggled to maintain stability above $102,000 in recent days, and data shows this is due to an apparent imbalance between selling pressure and fresh demand. On-chain data from CryptoQuant reveals that while long-term holders have been actively taking profits, the market is showing limited capacity to absorb their sell-offs. This is a contrast to previous phases of the bull run, where rising demand was able to offset increased long-term holder activity. Related Reading: XRP’s Price Doesn’t Match Its Growing Real-World Use, Study Finds Rising Long-Term Holder Selling....
Bitcoin spot reserves continue the recent trend of decline as values now stand at the lowest since October 2017. This shows the supply shock is tightening its grip. Bitcoin Supply Shock Narrative Grows Further As Spot Reserves Decline To October 2017 Levels As pointed out by a CryptoQuant post, BTC spot reserves have dropped down to lows not seen since October 2017. The spot reserves is a Bitcoin indicator that shows the total amount of coins held on wallets of all spot exchanges. When the value of the metric goes up, it means there is now an increase in the supply of BTC for selling and....
CryptoQuant’s research head has pointed out how demand to absorb Bitcoin at higher prices has been low recently, potentially explaining the asset’s decline. Bitcoin Apparent Demand Metric Has Turned Red Recently In a new post on X, Julio Moreno, head of research at on-chain analytics firm CryptoQuant, has looked at recent BTC market dynamics from a different angle. “Instead of looking at Bitcoin long-term holder distribution/spending, I like to look at the other side of the trade,” noted Moreno. Related Reading: Crypto Analyst Maps Out Dream Ethereum Scenario To....
As Binance continues to be surrounded by FUD, here’s what the CryptoQuant head thinks regarding the possibility of a bank run. Can Cryptocurrency Exchange Binance Go The Way Of FTX? In a new post on X (formerly Twitter), Julio Moreno, the Head of Research at the on-chain analytics firm CryptoQaunt, has talked about whether Binance […]
Coinbase Pro is a major bellwether for institutional demand. Now, data from CryptoQuant indicates that short-term selling pressure on Coinbase is mounting. Bitcoin’s (BTC) definitive breakout above $50,000 may have to wait longer to materialize as spot buying pressure on Coinbase Pro shows signs of weakening — at least, in the short term. The Coinbase Premium Index, which measures the gap between the BTC price on Coinbase Pro and Binance, has flipped negative, according to CryptoQuant. In other words, selling pressure on Coinbase appears to be strengthening compared with other exchanges....