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Analyst: Bitcoin Demand Slowing Down, Potential Support Area Around $92,000

2025.06.22 23:32:23

On June 22nd, Julio Moreno, the research director of CryptoQuant, stated that after a period of rapid growth and with the price approaching $112,000, Bitcoin is showing signs of cooling off. Spot demand is still on the rise but at a slower rate and is currently below historical trends. Whale and ETF Bitcoin purchases have been cut in half. The demand from new investors is also declining. In the futures market, investors have recently decided to take profits and are beginning to establish new short positions. If the demand remains weak, Bitcoin may find support around $92,000, which is a price level corresponding to traders' on-chain realized cost and is a typical support area during a bull market. If this support fails, the next support level may be around $81,000, close to the lower limit of traders' on-chain realized cost.
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