Bitcoin Demand Rebounds, But Sustainable Recovery Requires Stronger Spot Buying

Bitcoin's recent recovery has hit a significant milestone, as its 30-day demand has turned positive near 25,000 BTC. This indicates that capital is returning to the market, mainly driven by derivatives.

However, for a sustainable recovery, stronger spot market participation is needed to absorb overhead supply and overcome resistance levels between $67,000 and $72,000.

The corporate sell pressure remains limited as major holder MARA has pledged 18,750 BTC instead of selling. This move adds collateral risk to the market.