CryptoQuant analyst Darkfost says bitcoin market demand has declined again, with apparent demand turning negative over the past few days. Short-term holders continue to take profits and sell-side pressure remains stable, but the demand picture has clearly weakened and is now visible in bitcoin's price structure. If demand fails to recover in the near term, the analyst warns, bitcoin may face further downside risk.
CryptoQuant analyst Darkfost says bitcoin market demand has slipped again. Although short-term holders are still taking profits and sell-side pressure has stayed stable, apparent demand has turned negative once more, a sign demand has clearly weakened over the past few days.
Darkfost believes the shift is also showing up in bitcoin's price structure, with the current trend looking soft. If demand does not recover in the short term, bitcoin could face further downside risk, he said.
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