Українська
Русский
English
Bitcoin has risen, but experts say a strong bullish signal has not yet been confirmed!
The cryptocurrency analytics platform CryptoQuant stated that despite the recent recovery in Bitcoin’s price, there are still no clear signs of improvement in the market’s fundamental dynamics.
According to the company’s latest assessment, Bitcoin has risen by approximately 30% since February 6. However, it was noted that this recovery is not sufficient to conclude that the market has entered a new bullish cycle. The analysis particularly highlighted weak demand.
According to CryptoQuant data, “apparent demand” (aggregated over 30 days) remains in negative territory, hovering around -44,700 BTC. Although this figure represents a significant improvement compared to the -89,000 BTC level observed at the beginning of April, it still indicates that the market has not yet formed a clear excess of demand.
The report noted that apparent demand has generally remained negative since the beginning of the year. The brief positive deviation observed at the end of February was attributed to reduced Bitcoin production rather than a genuine increase in demand. In particular, unfavorable weather conditions in the United States at the beginning of the year led to a significant slowdown in mining, temporarily restricting supply.
The analysis explained that the “apparent demand” metric measures the difference between newly produced BTC and the supply that has remained inactive for more than one year, helping to assess whether structural accumulation in the market can absorb new supply.
In conclusion, CryptoQuant believes that despite the rise in Bitcoin’s price, stronger and more sustained demand recovery is needed for continued growth. Current data suggests that the market has not yet crossed this threshold.
See also: "Will the Bearish Signal Lead to a 10% Drop in Bitcoin Price?"
