Bitcoin Could Crash to $92K as Demand Drops 50%, CryptoQuant Warns
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CryptoQuant
Bitcoin faces potential crash to $92,000 as CryptoQuant warns demand drops 50% from May peak of 228,000 BTC to 118,000 BTC while short-term holders shed 800,000 BTC since late May and whale accumulation plummets from 3.9% to 1.7% monthly growth.
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Anas Hassan
Crypto Journalist
Anas Hassan
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Anas is a crypto native journalist and SEO writer with over five years of writing experience covering blockchain, crypto, DeFi, and emerging tech.
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Bitcoin faces a potential crash to $92,000 as demand metrics show alarming deterioration across multiple key indicators, with CryptoQuant’s head of research, Julio Moreno, warning that Bitcoin has entered a “soft patch” that could derail the current bull run.
The sobering analysis reveals that apparent demand growth has plummeted by nearly 50% from its May peak of 228,000 BTC to just 118,000 BTC over the past 30 days.
This dramatic demand destruction comes as Bitcoin trades around $104,700, down 6.5% from its $112,000 peak in May, with short-term holders shedding 800,000 BTC since late May as new investor participation wanes and futures traders increasingly open short positions.
The demand crisis emerges despite Bitcoin maintaining what many analysts consider healthy long-term fundamentals. The...
https://cryptonews.com/news/bitcoin-could-crash-to-92k-as-demand-drops-50-cryptoquant-warns-is-the-bull-run-over/
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