Bitcoin market demand has improved noticeably in recent weeks, according to analyst Darkfost, with spot demand continuing to recover even as prices move lower. Data cited by Darkfost shows total Bitcoin demand has returned to positive territory at more than 14,000 BTC. Futures demand, by contrast, has remained relatively steady, averaging about 32,000 BTC recently. Spot demand is still negative at roughly -17,000 BTC, but the figure marks a sharp improvement from -207,000 BTC on Sept. 20. Darkfost said the combination of falling Bitcoin prices and gradually recovering demand should be read as a constructive market signal. The comments were reported by ChainCatcher.
Bitcoin market demand has improved clearly in recent weeks, analyst Darkfost said, according to ChainCatcher, with spot demand continuing to recover.
Darkfost said total Bitcoin demand has moved back into positive territory and now stands at more than 14,000 BTC. Futures demand has stayed relatively stable, with a recent average of about 32,000 BTC.
Spot demand is currently around -17,000 BTC. It remains in negative territory, but that is a major improvement from -207,000 BTC recorded on Sept. 20.
Darkfost said the market is showing a constructive signal because demand is gradually recovering while Bitcoin prices are falling.
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