Bitcoin (BTC) is trading at $109,000, up 0.8% over the week, but remains range-bound as institutional buying from ETFs and MicroStrategy (MSTR) fails to offset declining spot demand, CoinDesk reported, citing on-chain analytics platform CryptoQuant. BTC demand has shrunk by 895,000 over 30 days, with ETF and MSTR purchases also slowing compared to December. Additionally, the empty BTC mempool signals weak retail interest, raising concerns about future price momentum, especially as some experts, like Anthony Scaramucci, predict the BTC treasury trend may fade.
Analysis: Institutional buying fails to compensate for Bitcoin's declining spot demand
Sector:
Source
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
Like
Add to Favorites
Comments
Share
Relevant content