CryptoQuant analyst Darkfost has highlighted that Bitcoin is experiencing its strongest buying pressure since the previous bear market. The 365-day cumulative net spot buying volume, measured in USD, has surpassed $83 billion, a stark contrast to the negative readings seen before March 2026. This metric, which tracks the difference between spot buying and selling volumes on major exchanges on a rolling 365-day basis, signals a significant improvement in demand. Darkfost noted that the market is gradually forming a positive trend. However, he cautioned that spot trading volume does not represent the majority of exchange trading volume, as futures trading continues to dominate. Nonetheless, the spot-based indicator suggests that market momentum is becoming increasingly positive. The data indicates a clear turnaround from the negative territory earlier in the year, reflecting the analyst's view of improving demand. This shift in the spot market could be a key factor for the broader market direction, though futures dominance remains a cautionary note.
On Sept. 6, CryptoQuant analyst Darkfost said Bitcoin is seeing its strongest buying pressure since the last bear market. The 365-day cumulative net spot buying volume, measured in USD, has pushed past $83 billion, after sitting in negative territory before March 2026. This metric tracks the gap between spot buying and selling volumes on major exchanges over a rolling 365-day period. And right now, it points to a clear pickup in demand. In Darkfost’s view, the market is slowly taking shape in a positive trend.
But Darkfost also warned against reading too much into spot volume alone. Spot trading still makes up less than most exchange trading volume, with futures continuing to dominate. Even so, this spot-driven indicator still hints that market momentum is turning more positive.
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