Despite Bitcoin’s Recent Drop, This Data Is Showing a Reversal: What Does It Mean?

Cryptocurrency market analyst CW stated that despite Bitcoin’s recent price drop, demand indicators continue to improve. According to the analyst’s data, while demand in the futures market declined slightly compared to the previous day, the negative value in spot demand narrowed significantly.

The spot demand indicator has not yet moved into positive territory. Therefore, the data does not indicate a definite bull run in Bitcoin. However, the fact that the indicator, which has been in negative territory for a long time, is approaching zero has been interpreted as investors who are directly buying BTC starting to balance the selling pressure.