The Bitcoin market is facing challenges to curb the recent bullish streak. The entry of new capital, key to maintaining price impulses, shows a signal of fatigue.
Cryptoquant Report, On-Chain Data Provider points out that Bitcoin demand will weaken, and prices may bring important levels of support. This panorama, combined with a complex macroeconomic context, raises questions about the immediate future of the world’s most important digital assets.
he Momentum of Bitcoin demand has dropped to 2 million btc, lowest recorded level. This indicator reflects a significant decrease in new buyers’ entry. Over the past 30 days, cash demand has increased by 118,000 BTC. This is a modest figure for a maximum of 228,000 BTC reached May 27, 2025.
The following graph shows that net demand drives Bitcoin prices. The time of the fort”Momentum Positive demand” (green bar) coincides with a significant increase, butMomentum Negative demand” (red bar) is associated with falls or stagnation.
In May 2025, Red Bar is the most notable registered, pointing out strong sales pressure or extreme shortages of new buyers, creating an oversupply in the market with cash. This cooling in purchasing activities It suggests that the market could enter a slower phase.
Meanwhile, whales – investors with excellent Bitcoin holdings – and funds cited in the stock market (ETF) have significantly reduced acquisitions. Whale balance grows by just 1.7% between 1.7% compared to 3.9% recorded at the end of MayEasgura Cryptoquant.
Also, daily purchases of ETFs in the US They fell from 9,700 BTC on April 23 to 3,300 BTC today. This low activity of great players reinforces perception of weak demand.
Fewer new investors and more sales pressure
New investors’ participation is also showing a setback. Short-term holders (STH), those who recently acquired Bitcoin, Currently, there is a decline of 4.5 million BTC and 8 million cases compared to 5.3 million on May 27th..
This decline in offers in STH’s hands indicates a low entry in fresh capital. This is a key factor in sustained price increases as it usually relies on new investors who buy from old owners.
While a typical upward market driven by retail, we expect an increase in this metric, current dynamics suggest that price support will depend more on long-term holders or institutional demand than new participants.
Where is the price of Bitcoin?
Cryptoquant analysts warn that if demand continues to weaken, Bitcoin will be able to find support for $92,000. This is a level that corresponds to the price that was made on-chain for operators and is the usual support point in the upward market. If this level doesn’t resist, the next support is located at around $81,000Easgura Cryptoquant.
SwissBlock Technologies, a digital asset market analysis company, “Spot Volume Delta”This measures the difference in the amount of trading in the market with cash.
The negative bar in June confirms negative net demand with sales exceeding purchases. This phenomenon coincides with the lowest participation of new investors and the decline in short-term offers..
The price has not collapsed, The resistance is probably due to the fact that long-term holders are not making large-scale liquidation of their positions.offering temporary support at price. But “it’s likely that there’s a downward impulse before you get a real break,” SwissBlock Technologies said.
Bitcoin Macroeconomics and Bonds Perspective
Despite the signs of alerts, not everything is pessimistic. As reported in Cryptootics, Bitcoin prices are still in the consolidation phase between $100,000 and $110,000.
However, the macroeconomic context does not support assets. Middle Eastern tensions stemming from the Israeli-Iran conflict; They create uncertainty in the global market and affect volatile assets such as Bitcoin.
Nevertheless, There are catalysts that can reverse this trend. Christopher Waller, a member of the US Federal Reserve, said in July that agencies could cut interest rates in July as inflation no longer poses a serious threat.
Lower interest rates reduce the cost of liabilities and encourage investment in assets such as Bitcoin. Currently, the US reference rate remains between 4.25% and 4.5%. However, cuts can promote price bounce.
Another bullish factor is growing institutional adoption. Following Michael Saylor Model, president of Strategy, BTC Holdings’ highest public company, we consider Bitcoin as a reserve asset.
On his part, analyst Willie Wu points out that the institutional flow to Bitcoin is “very fluid” and compares it to the average cost average strategy. Woo predicts that if Bitcoin exceeds his historic maximum, he could soon reach $118,000.