According to CryptoQuant data, Bitcoin demand has entered one of the most extreme contraction zones since 2019, with the 30-day growth rate of spot and perpetual contract demand approaching -650k BTC, a level that has only occurred three times in history. Analysts believe that the synchronized decline in spot and derivative demand indicates a lack of new buying support in the market, and this phase is more likely the beginning of high volatility and a prolonged sideways consolidation rather than a clear bottom signal.

BTC-2.68%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 2
  • 1
  • Share
Comment
Add a comment
Add a comment
GlassDomeBaskingInMoonlight
· 8h ago
What is the trend after three historical occurrences? Is there any backtesting data?
View OriginalReply0
HotAirBalloonCrossingMountains
· 8h ago
-650,000 units are indeed frightening, but derivatives data can sometimes lag; the spot market is the real signal
View OriginalReply0
  • Pinned