BlockBeats news, on June 22, CryptoQuant research director Julio Moreno stated that after experiencing a period of accelerated growth with prices nearing $112,000, Bitcoin demand is showing signs of cooling. Spot demand continues to grow, but the growth rate has slowed and is currently below historical trends. The amount of Bitcoin purchased by whales and ETFs has halved. The demand from new investors is also declining. In the futures market, investors have recently chosen to take profits and are starting to establish new short positions.
If demand remains weak, Bitcoin may find support around $92,000, which corresponds to the on-chain actual cost for traders and is a typical support zone during a bull market. If this support fails, the next support level may be at $81,000, close to the lower bound of the on-chain actual cost for traders.
