📉 Weak demand for $BTC indicates the likelihood of a protracted phase of market consolidation - CryptoQuant



- ETF purchases - 4-month minimum.

- Michael Saylor's Strategy noticeably slowed down the speed of adding BTC to the balance.

- Demand for Bitcoin decreased from 174,000 BTC in July to 59,000 BTC in August.

Many are now worried that the bearish trend is starting and rely on an 8% correction. Apparently, people forgot that, for example, in the last cycle we had a 40% correction, after which we went to ATH again.

Medium-term support from the 111-day SMA is at the urlan $109,600, and the realized value for short-term holders is at $106,800.
BTC-0.91%
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