📊📉 CryptoQuant assessment: Demand for #BTC decreased by 140,000 BTC, a notable drop but still more moderate compared to previous crises (-268,000 and -437,000 BTC respectively). This indicates that investors are taking short-term profits after the price of Bitcoin reached $109,000, rather than a sign of a serious recession.

The decline of 140,000 BTC in demand is not too surprising, especially when the price has just hit a new high – this is a reasonable market reaction as investors lock in profits. Compared to major crisis periods in the past, this decline remains within a manageable range, suggesting that the market has not fallen into a state of panic. Despite the impact of the Fed's tightening monetary policy and rising inflation, the bullish trend appears to maintain its momentum. However, this is a warning signal that the market may enter a phase of short-term volatility. Investors need to be cautious and monitor additional indicators such as trading volume or community sentiment for a clearer view of the upcoming trend.