Bitcoin Demand Drops, Bear Market Signals
Update: 2025-12-20
Description
Bitcoin demand has cooled, with spot demand dropping below its long-term trend in early October, according to CryptoQuant. This slowdown follows three demand surges since 2023, and large holders, particularly those with 100-1000 Bitcoin, are pulling back. Bitcoin has fallen below its 365-day moving average, a key level that has historically split bull runs from bears. CryptoQuant predicts a potential cycle bottom around $56,000, a 55% plunge from the peak, with $70,000 offering short-term support.
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