Bitcoin’s Rebound Is Failing: 3 Reasons BTC Could Face More Pressure

Bitcoin’s latest rebound attempt has failed miserably, with the asset falling from $81,000 last Wednesday to $62,000 on Saturday, a 23% drop in mere days. New CryptoQuant data suggests this weakness is not simply the result of leverage being flushed out , as underlying spot demand remains poor and several other sources of selling pressure are simultaneously intensifying. Buyers Are Nowhere to Be Found Perhaps the most worrying signal came from CQ’s Spot and Perpetual Futures Demand Growth indicator, which, according to analyst XWIN, estimated that 30-day BTC spot demand has fallen to approximately -280,000 units, while perpetual futures demand sits at around -82,000 BTC. Combined, these figures represent over 360,000 BTC in negative demand, reversing an earlier improvement in spot activity that ultimately proved short-lived.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to CryptoPotato.