Despite recent institutional purchases led by Michael Saylor and MicroStrategy, analysts warn that spot demand for Bitcoin is showing signs of weakening. This trend could represent a warning sign for the current bullish momentum in the market.
🏦 Institutional purchases are not enough
MicroStrategy has continued to increase its position in BTC, and other institutions have also entered the market. However, according to an analysis published by CoinDesk, these movements do not offset the decline in interest from retail investors and active traders in the spot market.
Volume on spot exchanges has decreased, and this slowdown suggests a loss of strength in the buyer base that typically drives stronger movements in the crypto market.
📊 What does this decline in spot demand imply?
Spot demand represents direct purchases of Bitcoin, without leverage or derivative instruments. A decline in this metric may indicate that general enthusiasm is cooling, or that investors are waiting for corrections before re-entering.
Meanwhile, Bitcoin ETFs and other regulated products continue to attract inflows, but analysts doubt this will be enough to sustain a prolonged rally if the spot market does not react.
🚨 Caution signals
Activity on exchanges like Binance, Coinbase, and Kraken has fallen in recent weeks.
Global searches for 'Bitcoin' have also decreased, reflecting possible market fatigue.
Some traders fear a correction if buyer volume does not return soon.
🔍 Conclusion
Although Bitcoin's long-term fundamentals remain strong, the decline in spot demand is a signal that should not be ignored. While institutional players are active, the retail base — key in previous cycles — has not yet returned strongly.
Are we facing a healthy pause before a new push or the start of a deeper correction?
