Bitcoin’s demand deficit has shrunk from 206,000 to 5,000 BTC, bringing the 30-day measure close to neutral territory. Historically, positive demand transitions delivered a median 18.1% return over the following 60 days, with positive returns occurring in 78% of cases. Conviction buyers expanded their share as Bitcoin retreated from above $120,000 toward the $60,000-$70,000 range, according to Glassnode data. Both spot and futures demand are improving simultaneously, unlike in April and May when only futures demand strengthened. Maintaining demand above zero will be key to confirming broader market participation.
Source: Read the original article
