Bitcoin demand has continued to climb over the past 30 days and now stands at about 170,000 BTC, according to CryptoQuant analyst Darkfost, who shared the view on X. He said the market appears to have entered an impulsive advance driven by demand, even as signs of short-term overheating in BTC are becoming more visible. In his view, new demand is absorbing sell pressure created by profit-taking. Darkfost also pointed to historical data showing that periods when spot and futures demand rise at the same time have often coincided with stronger upside moves. He added that if current demand remains in place and continues to absorb short-term profit-taking flows, the market’s upward momentum could persist even if BTC moves into overbought territory.
CryptoQuant analyst Darkfost said in a post on X that total BTC demand has kept rising over the past 30 days and is now around 170,000 BTC.
He said that while signs of short-term overheating in BTC are becoming more apparent, the market appears to have entered an impulsive rally driven by demand. New demand, he wrote, is absorbing the selling linked to profit-taking.
Darkfost added that historical data shows stronger rallies have often appeared when spot and futures demand increase at the same time. As long as current demand holds up and continues to take in short-term profit-taking supply, upside momentum may continue even if the market enters overbought territory.
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