Bitcoin Demand Rebounds Even as Price Keeps Falling

Bitcoin slipped another 1.5 % over the past day and now changes hands near 83 000 dollars. Yet total demand has flipped back into positive territory above 14 000 BTC.

CryptoQuant analyst Darkfost pointed out that spot demand has climbed to minus 17 000 BTC, a sharp improvement from the minus 207 000 level seen on September 20. Futures demand has stayed steady around 32 000 BTC.

Colleague MAC_D takes a more cautious stance. He attributes the pullback to fading on-chain spot buying and notes that open interest in derivatives has shrunk nearly 10 % since September 22, from 28.8 billion to 26 billion dollars.

Still, MAC_D highlighted that holdings in spot Bitcoin ETFs keep rising. He believes the 69 000-dollar zone, where short-term holders bought in, could act as key support if the broader bull cycle remains intact.

Based on information from cryptonews.net