Recently, the Bitcoin market has shown signs of cooling demand, a phenomenon that occurred after the Bitcoin price reached a high of nearly $112,000. Although demand in the spot market is still rising, the growth rate has明显放缓, below historical average levels.

Market observation shows that the buying power of large holders and ETFs has weakened, with their purchasing volume nearly halving. At the same time, the pace of new capital entering the market is also slowing down. In the futures market, some investors have chosen to take profits and are starting to attempt to establish short positions.

If the trend of weak demand continues, Bitcoin may seek support around $92,000. This price level is not only the median of the current on-chain actual costs for traders, but also a typical support area in a bull market. However, if the support level at $92,000 cannot be held, the next key support level may appear around $81,000, which corresponds to the lower bound of the on-chain actual cost.

Market analysts point out that this cooling demand may be a reflection of investors being cautious and observing at high levels. They advise investors to closely monitor market trends and manage risks effectively. Meanwhile, some experts believe that this could be a brief adjustment before a new round of Bitcoin rise, and long-term investors may view this as a potential buying opportunity.

It is worth noting that the volatility of the cryptocurrency market has been high, and investors should act cautiously, conducting thorough research and risk assessment. As the market continues to evolve, the trend of Bitcoin may be influenced by more factors, including but not limited to the global economic situation, changes in regulatory policies, and technological developments.