TL;DR
- CryptoQuant says Bitcoin’s 30-day apparent demand fell to -76,000 BTC and stayed negative from October 14, while the Coinbase Premium weakened in October.
- The firm’s Bull Score dropped from 90 to 60 as holder profits fell from 33% in September to 8%.
- Bitcoin remained near $81,350, putting the 365-day moving average around $77,585 into focus, followed by support near $74,041 and $73,028 if weakness continues.
Bitcoin demand is weakening as October closes, leaving the market focused on support levels after BTC failed to sustain momentum. In its October 27 research, CryptoQuant said Bitcoin traded near $81,350, down from September’s $83,570 close and about 3.3% lower for October. The firm describes conditions as bullish but cooling, with demand deteriorating while price approaches its 365-day moving average near $77,585. That keeps Bitcoin’s market structure central as traders assess whether the correction deepens.
Bitcoin Demand Weakens as Lower Support Levels Come Into Focus
CryptoQuant’s 30-day apparent demand metric stood at -76,000 BTC on October 25 and had remained negative since October 14. The Coinbase Premium also stayed below zero throughout October, falling to -0.146 on October 24, its lowest since late June. October’s average reading was -0.093, roughly three times September’s level. Together, the indicators point to weaker spot buying pressure without proving that demand deterioration alone caused Bitcoin’s decline. The pattern extends earlier CryptoQuant warnings about cooling Bitcoin demand.
Short-term holder profitability has compressed. Their unrealized profit margin fell from around 33% in September to about 8%. CryptoQuant’s Bull Score Index declined from 90 in late September and early October to 60 from October 19 onward. Momentum has cooled, although six of the index’s ten components remain positive and CryptoQuant has not shifted to a fully bearish regime. That contrasts with earlier evidence of renewed whale accumulation during October.
The immediate technical focus is the 365-day moving average at roughly $77,585. Below it, CryptoQuant identified the short-term holder average cost basis near $74,041 and the 200-day moving average around $73,028. These levels form a descending support structure rather than guaranteed floors, and a sustained break below them would leave recent buyers holding unrealized losses. The setup aligns with other analyses placing Bitcoin support in the high-$77,000 area.
Bitcoin enters October with weaker demand, reduced short-term profits and a Bull Score below September highs. The month is on course for a second consecutive negative October after the 3.8% decline recorded in 2025. CryptoQuant’s key message is not that $77,585 must fail, but that slowing demand makes the level increasingly important if selling pressure persists. A hold above the moving average would preserve part of the bullish structure, while sustained weakness below it would put lower cost-basis zones into focus.