Bitcoin Market Stability Due to Seller Exhaustion, Not Increased Demand

According to CryptoQuant analyst Darkfost, Bitcoin's market stability is not due to an increase in demand but rather seller exhaustion. The analyst stated that since the beginning of the year, spot demand has continued to shrink and the market has been driven by futures speculation.

The total estimated spot and futures demand for Bitcoin is currently -127,000 BTC, which Darkfost believes is insufficient to restart an upward trend in the market.

Market stability is resulting from seller exhaustion rather than a recovery in demand, as there is no panic selling accompanied by extremely low trading volumes. Without this, the correction may continue.