Will Bitcoin retrace as “apparent demand” signal flips negative?
2025-06-30 08:01:05
Main Idea
Bitcoin's 'apparent demand' signal has turned negative, indicating potential caution despite short-term bullish momentum and resistance levels.
Key Points
1. Bitcoin’s 'apparent demand' signal has turned negative, with supply entering the market from miners and long-term holders (LTHs).
2. Bitcoin is trading at $108,190, up 0.8% in 24 hours, but remains 3% below its all-time high of $111,814 set on May 22.
3. Technical indicators show short-term bullish momentum, but resistance persists in the $109,000–$110,000 range.
4. The Relative Strength Index (RSI) is neutral but nearing overbought levels; a breakout above $111,000 could re-establish bullish control.
5. Market sentiment may be influenced by upcoming speeches from central bank leaders, including Federal Reserve Chair Jerome Powell.
Description
Bitcoin’s recent price rebound has brought the asset closer to its record highs, but a new on-chain signal may be flashing caution. According to a June 29 analysis by CryptoQuant contributor Crazzyblockk, Bitcoin’s ( BTC ) “apparent demand” signal has turned negative, indicating that new buyer interest is no longer keeping pace with the supply entering the market from miners and long-term holders. Apparent demand is a metric that compares new buyer interest to the supply entering the market. Spe...
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