Bitcoin Demand Shows Signs of Cooling After Price Surge

According to BlockBeats, CryptoQuant's Head of Research, Julio Moreno, has observed a cooling in Bitcoin demand following a rapid price increase to nearly $112,000. While spot demand continues to grow, its pace has slowed and is now below historical trends. The volume of Bitcoin purchases by whales and ETFs has halved, and demand from new investors is also declining. In the futures market, investors have recently opted to take profits and are beginning to establish new short positions. If the demand remains weak, Bitcoin may find support around $92,000, which corresponds to traders' on-chain actual cost price and is a typical support zone during bull markets. Should this support level fail, the next potential support could be at $81,000, close to the lower boundary of traders' on-chain actual cost price.