Bitcoin's Price is Near the Bottom, But Demand Collapse Signals No Bull Rally
Bitcoin's price is banging against its realized price, a zone that has historically marked the bottoms of cycles. But donโt get too excited. This isnโt a green light for a bull market. The charts are shouting caution, not celebration.
Demand has evaporated. Weโre witnessing the sharpest drop in overall demand for Bitcoin since early 2022, and spot ETFs are bleeding money. Forget about institutional FOMO; theyโre stepping back, and corporate treasuries are nowhere to be found.
Capitulation is also not complete. Realized losses are just a fraction of what we saw in 2022. This means there are still plenty of holders ready to sell as soon as the price wiggles even a little. Until demand recovers and sellers are truly shaken out, this price level is merely a candidate for a bottom, not a confirmed bottom.
๐ Expect continued sideways movement or further downward pressure on BTC and altcoins as weak hands are shaken out. A sustained recovery in demand is needed to ignite any significant bull momentum.
When do you think demand for BTC will finally turn around? What price level signals true capitulation? ๐
#bitcoin #btc #etf #onchain #demand
Bitcoin's price is banging against its realized price, a zone that has historically marked the bottoms of cycles. But donโt get too excited. This isnโt a green light for a bull market. The charts are shouting caution, not celebration.
Demand has evaporated. Weโre witnessing the sharpest drop in overall demand for Bitcoin since early 2022, and spot ETFs are bleeding money. Forget about institutional FOMO; theyโre stepping back, and corporate treasuries are nowhere to be found.
Capitulation is also not complete. Realized losses are just a fraction of what we saw in 2022. This means there are still plenty of holders ready to sell as soon as the price wiggles even a little. Until demand recovers and sellers are truly shaken out, this price level is merely a candidate for a bottom, not a confirmed bottom.
๐ Expect continued sideways movement or further downward pressure on BTC and altcoins as weak hands are shaken out. A sustained recovery in demand is needed to ignite any significant bull momentum.
When do you think demand for BTC will finally turn around? What price level signals true capitulation? ๐
#bitcoin #btc #etf #onchain #demand