📉 BITCOIN DEMAND IS WEAKENING: HAS THE BOTTOM FORMED OR IS MORE DOWNSIDE AHEAD? Bitcoin remains under pressure after falling around 16% over the past week and testing the $60,000 support zone. On-chain data suggests the market has yet to show clear signs of a sustainable bottom. 📌 Key Highlights: • BTC demand is declining across both spot and futures markets • More than 50% of Bitcoin's supply is currently sitting at unrealized losses • Around 10.5 million BTC are now underwater, exceeding the amount still in profit • Over 53,800 loss-making BTC were transferred to exchanges within 24 hours, indicating continued selling pressure 📊 According to Glassnode and CryptoQuant, buying demand remains insufficient to absorb current selling activity. Meanwhile, market sentiment continues to lean defensive. #Bitcoin #BTC #Crypto #CryptoMarket #Blockchain #DigitalAssets #CryptoNews #OnChain #CryptoTrading #GlobalCryptos
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