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CryptoQuant: Bitcoin demand remains weak, but the price may rebound to $71,500 to $81,200
ME News message, April 2 (UTC+8). Citing CryptoQuant data from Theblock, it says that although some institutional buyers are still continuing to purchase, BTC spot demand remains in a “deep contraction” state. As of late March, the 30-day apparent demand growth was approximately -63,000 BTC, indicating that selling pressure in the market is still stronger than buying pressure. CryptoQuant says that if the US-Iran conflict eases, BTC’s price could rise to the $71,500 to $81,200 range—these levels are key resistance points in a bear market. (Source: ChainCatcher)