[Analysis] Bitcoin Spot Demand Stays Weak as Futures Buying Also Slows
Uk Jin
Summary
- An analysis said Bitcoin could face greater downside pressure amid weak spot-market demand and slowing buying demand in the futures market.
- CryptoQuant contributor Darkfost said spot demand fell by 145,000 BTC over the past 30 days, while futures demand rose by only 74,500 BTC.
- As of 3:06 p.m., Bitcoin was trading at $77,218 on CoinMarketCap, down 1.51% from a day earlier.
Forecast Trend Report by Period
Bitcoin may face mounting downward pressure as weak demand in the spot market persists and buying interest in the futures market also continues to slow, according to an analysis.
On September 11, CryptoQuant contributor Darkfost wrote on X, formerly Twitter, that Bitcoin is struggling to hold its current price range as overall market demand weakens. Over the past 30 days, spot demand has fallen by 145,000 BTC, while futures demand has increased by only 74,500 BTC.
As of 3:06 p.m., Bitcoin was trading at $77,218 on CoinMarketCap, down 1.51% from a day earlier.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.