Bitcoin

Gold

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-faces-demand-shortfall/" data-wpel-link="internal">Bitcoin Faces Demand Shortfall</a><br></p>
<p style="text-align: justify">The leading cryptocurrency fell below $59,000 again, and crab markets continue to challenge investors. Rapid declines have quick rebounds, but the gradual pullbacks over months have heavily worn out investors. So, what is causing this environment that also undermines risk appetite? What has changed since April? Here is the answer.</p> 
<h2 style="text-align: justify" id="why-aren-t-cryptocurrencies-rising">Why Aren’t Cryptocurrencies Rising?</h2> 
<p style="text-align: justify">There could be countless answers to this. Excess supply, macroeconomic issues, and much more. However, while Gold sees its ATH level simultaneously with stock markets, it is hard to explain BTC’s weak price. There is a question and a problem. But there is also an answer. Data analysis firm CryptoQuant’s latest market report answers this.</p> 
<p style="text-align: justify">The company’s CEO, Ki Young, writes about long-term bullish sentiment and short-term volatility potential at every opportunity. However, the prolonged weakness is due to a lack of BTC demand.</p> 
<p style="text-align: justify">According to the analysis, visible demand is calculated by the difference between the daily total <a href="https://en.coin-turk.com/bitgo-ceo-predicts-significant-bitcoin-rally-within-six-months/" data-wpel-link="internal">Bitcoin</a> block subsidy and the daily change in the amount of Bitcoin that has remained unchanged for a year or longer. And demand is low. From April’s $70,000 to August’s major drop, this has declined. Demand in the ETF channel also fell, pulling down overall demand. In March, ETF channel BTC demand fell from 12,000 BTC to 1,300 BTC between August 11 and 17.</p> 
<p style="text-align: justify">Visible demand turned from 496,000 in 30 days to 25,000 negative growth.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="wp-image-381654 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/08/btc-etf-talep-eksikligi.png" alt="" width="1279" height="695"></p> 
<h2 style="text-align: justify" id="bitcoin-demand-shortfall">Bitcoin Demand Shortfall</h2> 
<p style="text-align: justify">Coinbase BTC price premium also fell from 0.25% seen in the early days of ETF launch to 0.01% today. In other words, the strong demand seen at the beginning of the year in the US channel weakened over time and reached its current point. The general negativity in volume is already felt from daily volume <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener" data-wpel-link="exclude">data</a>.</p> 
<p style="text-align: justify">It is normal for interest to wane in the summer, but it is also known that numerous negative events after ETF approvals have fed this negativity. So, what should happen? We need to see demand revive in the US channel. But how? Could <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">interest rate</a> cuts be a trigger at this point? Or Trump’s wild promises for crypto if he wins the elections? Maybe.</p> 
<p style="text-align: justify">However, in any case, most experts expect major movements within the last quarter.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bitcoin-faces-demand-shortfall/" data-wpel-link="internal">Bitcoin Faces Demand Shortfall</a></h5>
<p>The post <a href="https://en.coin-turk.com/bitcoin-faces-demand-shortfall/" data-wpel-link="internal">Bitcoin Faces Demand Shortfall</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.</p>

Bitcoin Faces Demand Shortfall

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