Darkfost observed an improvement in bitcoin demand, though it remains negative.
The expert known as Darkfost noted an improvement in the “apparent demand” for the leading cryptocurrency. Over the past 30 days, the situation has changed, although the metric remains in negative territory.
The current metric value stands at approximately -31,000 BTC. This marks significant progress compared to January 9, when the figure dropped to -132,000 BTC.
For a full market recovery, the positive trend must continue, and demand must exceed supply. However, Darkfost warned of risks. Threats from U.S. President Donald Trump to impose new tariffs have added uncertainty to the markets. In the short term, this will hinder further growth in the metrics.
The decline in trading activity and stabilization of bitcoin’s price may indicate the onset of an early accumulation phase. This conclusion was reached by the CryptoQuant author known as maartunn.
The expert compared the current situation to early 2024. At that time, spikes in activity on the chart (red indicators) signaled an overheated market. Now, despite price corrections, green “cooling” markers have appeared.
This phase often precedes a new bullish impulse. During this period, “weak hands” sell assets, while informed buyers quietly return to the market.
“Simply put: volumes are decreasing, and this is a bullish signal,” the analyst concluded.
Alphractal analyzed the decoupling of cryptocurrencies from the stock market. While the S&P 500 index reached new all-time highs, digital assets showed restrained dynamics.
Experts noted that bitcoin and altcoins now correlate more closely with the small-cap Russell 2000 index than with tech giants. This indicates the crypto market’s dependence on broader economic cycles, rather than just the hype surrounding artificial intelligence.
An additional factor has been the shift of capital into the commodity sector. The decline in the gold-to-silver ratio and the rise in futures for industrial metals (copper, aluminum, nickel) point to a revival of industrial demand.
Alphractal concluded that for a full-fledged bull rally, a loosening of central banks’ monetary policy is necessary, which would stimulate economic growth and risk appetite.
On January 19, the price of the leading cryptocurrency fell from $95,467 to $92,263. Following bitcoin, leading altcoins also entered the “red zone.”
