Bitcoin prices consolidate about $ 111,000 after major market losses on October 10, due to the trade war between the USA -ai China. The price of property is currently reduced by 9.45% on its weekly ladder, and is also 12.16% of its permanent maximum in the midst of this corrective phase.
Bitcoin records of the first negative apparent demand from July
IN X post On October 11, the popular market analyst Ali Martinez shares a chain information showing that Bitcoin’s apparent demand has recently switched to a negative territory for the first time after three months, suggesting a short-term cooling of the investor appetite.
For context, apparent demand measures the net amount of bitcoin that accumulates active owners. To put it simply, it reflects how much the supply of bitcoin is reactivated or moved in relation to how new is created. Positive reading generally indicates growing demand and accumulation in the market, while the negative value suggests that appetite or sales pressure is reduced.
Cryptoquant data for chain analysis shows that from October 8, Bitcoin’s apparent demand has fallen to -13.707 BTC. This development indicates the first negative reading since July, when the metric last became red before she recovered strongly with Bitcoin’s summer gathering.
Through August and September, the obvious demand of Bitcoin remained firmly positive, even when prices were moved between $ 108,000 and $ 122,000, which suggests constant buildup. However, the latest data show a sharp turnaround. A fall on a negative territory could mean that the long -term owners began to understand profit or that buying momentum temporarily slowed down while the traders assess the macro environment.
Interestingly, the macro environment has also become more and more concerned with investors, since the United States and China seems ready to restore tariff deviation. Significantly, US President Donald Trump announced that he plans to impose 100% tariff on all Chinese imports, following the Chinese proposal on the introduction of preliminary export tax on several key goods.
Considering the historical reaction of the market price on the tariff news seen in the early days of Trump administration, the feelings of investors may remain muffled if this one consists of a duration, and many have probably taken a cautious attitude until a clearer direction of policy occurs.
Bitcoin price review
At the time of writing, Bitcoin traded in the amount of $ 111,800, reflecting a drop of 0.47% in the last 24 hours. On a monthly basis, the property is reduced by 3.06%, withdrawing the intensity of the current corrective phase on the market.
Reading Reading: Dogecoin Price touches the IMB Zone – What does that mean and where the price is the price
About the Author
