Insight: Bitcoin On-Chain Demand Still Weak, Stronger Demand Needed to Return to $100K
BlockBeats News, January 7th, CryptoQuant analyst caueconomy stated in a post that even though the Bitcoin price has returned to above $93,000, on-chain demand continues to show weakness, requiring a stronger recovery to support a return to $100,000.
With market sentiment still mixed and trading volumes low, solid signs of improvement in on-chain activity have yet to emerge. However, as the holidays conclude (a period during which many investors reduce their trading), this situation may now change.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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