Bitcoin demand has improved noticeably in recent days, with the recovery in spot demand standing out, according to CryptoQuant analyst Darkfost. In a post cited by BlockBeats on Oct. 8, Darkfost said total demand has moved back into positive territory at more than 14,000 BTC. Futures demand has been relatively steady over the past few days at an average of about 32,000 BTC. Spot demand, while still slightly negative at -17,000 BTC, has recovered sharply from -207,000 BTC on Sept. 20. The analyst said the combination of falling prices and emerging demand is a positive signal. The note focused on demand metrics rather than price action alone, arguing that shifts in demand remain an important indicator to track in the Bitcoin market.
Bitcoin demand has improved markedly, especially on the spot side, according to CryptoQuant analyst Darkfost.
In a post cited by BlockBeats on Oct. 8, Darkfost said market attention is often centered on Bitcoin price moves, but analysts continue to track changes in demand. He said total demand has now returned to positive territory and exceeds 14,000 BTC.
On the futures side, demand has been relatively stable over the past few days, averaging about 32,000 BTC. Spot demand has continued to recover and now stands at -17,000 BTC. While that figure remains slightly negative, it is far above the -207,000 BTC recorded on Sept. 20.
Darkfost said demand emerging while prices are falling is a positive signal.
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