- An assessment suggests that Bitcoin may encounter increased selling pressure due to weakened demand in the spot market and a decline in buying activity within the futures market.
- According to CryptoQuant analyst Darkfost, there has been a reduction of 145,000 BTC in spot demand over the last month, whereas futures demand saw a modest rise of 74,500 BTC.
- At 3:06 p.m., Bitcoin was trading at $77,218 on CoinMarketCap, reflecting a decrease of 1.51% compared to the previous day.
Trend Prediction Report by Period
According to a recent analysis, Bitcoin could see increasing downward pressures due to ongoing weak demand in the spot market, along with a slowing trend in futures market purchases.
On September 11, Darkfost, a contributor at CryptoQuant, shared insights on X (formerly Twitter), highlighting Bitcoin’s struggle to maintain its price level amidst declining market demand. Within the last 30 days, there has been a drop of 145,000 BTC in spot demand, contrasted by a less significant gain of 74,500 BTC in futures demand.
As of 3:06 p.m., Bitcoin was listed at $77,218 on CoinMarketCap, marking a 1.51% decline from the previous day.