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CryptoQuant: Bitcoin demand remains weak, but the price may rebound to $71,500 to $81,200
ME News Report, April 2nd (UTC+8), citing CryptoQuant data from Theblock, states that although some institutional buyers are still continuing to purchase, Bitcoin spot demand remains in a “deep contraction” state. As of late March, the 30-day apparent demand growth was approximately -63,000 BTC, indicating that selling pressure in the market still outweighs buying pressure. CryptoQuant mentioned that if the US-Iran conflict eases, Bitcoin’s price could rise to the $71,500 to $81,200 range, which are key resistance levels in a bear market. (Source: ChainCatcher)