TREE NEWS reports: Bitcoin demand has not improved and is weakening further, CryptoQuant analyst Darkfost said on Sept. 28. Futures demand has fallen from 164,000 BTC to just 3,000 BTC, while spot demand remains negative at -174,000 BTC despite strong ETF inflows, pushing the 30-day cumulative demand estimate to -171,000 BTC. Over the past 15 days, bitcoin’s price still rose from $74,000 to $84,000.
Bitcoin Demand Weakens Further as Futures Demand Collapses, CryptoQuant Analyst Says
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AI take
The striking divergence here is that price strength is coexisting with collapsing futures demand and negative spot demand, which suggests the rally is being carried by something other than broad-based accumulation. That matters for anyone reading ETF inflows as a clean demand signal: the analyst's framing implies those inflows are being offset elsewhere in the spot market. Whether futures demand stabilizes or the spot outflow deepens is the open question, since the current price move looks increasingly disconnected from the demand data.
Generated by AI for reference only.
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