Crypto market analyst CW said Bitcoin demand indicators are still showing constructive signals even as BTC has declined in recent trading. According to the analyst, futures demand slipped slightly from the previous day, but the negative reading in spot demand narrowed, helping keep overall demand in a relatively positive range. CW added that spot demand, which had remained in negative territory for some time, is now close to turning positive. In the analyst’s view, if spot demand moves above zero, Bitcoin could gain stronger upside momentum. The comments were reported by BlockBeats on Oct. 9.
BlockBeats reported on Oct. 9 that crypto market analyst CW said Bitcoin demand-side indicators continue to show positive trends despite the recent drop in price.
CW said futures demand fell slightly from the previous day, while the negative reading in spot demand narrowed. That shift kept overall demand in a relatively positive range.
The analyst also said spot demand, which had previously remained in negative territory, is now approaching a positive reading. If spot demand turns positive, Bitcoin could see stronger upward momentum, according to CW.
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