Darkfoam: Bitcoin market stability stems from seller depletion, with continued weak spot demand

CryptoQuant analyst Darkfost stated that Bitcoin has been weak since the beginning of the year, with spot demand continuing to contract and relying solely on futures speculation to drive the market. The current total demand for spot and futures is estimated to be -127000 BTC, which is not sufficient to restart the upward trend. Market stability is the result of the exhaustion of seller power, not the recovery of demand. If there is no panic selling accompanied by extremely low trading volume, the pullback may continue.