Recent weeks have seen a shift in the Bitcoin market as investor activity transitions from an aggressive bullish phase to a cooler cooldown stage. Slowed demand has contributed to this decline, with current levels approximately two-thirds lower than last month’s peak. According to CryptoQuant’s weekly report, Bitcoin is experiencing this change from a period of significant bullish momentum to a more measured phase. 🤔
**A Shift in Sentiment**
Bitcoin’s price has cooled down significantly as investors have begun locking in their profits. This slowdown in demand is reflected in the current level of Bitcoin transactions, which are now less than half what they were a month ago.
**Institutional Players Slow Down**
Key institutional players like Strategy – often seen as leading BTC buyers – have reduced their acquisitions significantly. This change marks a significant shift from the previously robust buying activity.
**Spot ETF Flows Decline**
Similarly, spot Bitcoin exchange-traded funds (ETFs) are experiencing a decline in inflows, reaching levels not seen since April. This suggests a gradual decrease in investor interest and participation.
**Cooldowns May Continue**
CryptoQuant analysts believe that the current slowdown is likely to continue. They point out that Bitcoin’s market tends to be stable during periods of cooldown before potentially moving into a sideways phase. 📈
**Potential Support at $110K? **
There’s potential support near $110,000, which is the Trader On-chain Realized Price. This level has often acted as a stable ground for Bitcoin during previous bull cycles and could potentially discourage further selling.
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