Analysis: The market demand for Bitcoin is recovering, but the intensity has not yet reached the levels of previous rounds of pump.

On October 29, glassnode released an analysis stating that “Bitcoin's rebound from $107,000 coincides with the net inflow of the U.S. Bitcoin Spot ETF turning positive again. However, the current inflow remains below 1,000 BTC per day, significantly weaker than the over 2,500 BTC per day during the main rising phase at the beginning of this cycle. Demand is recovering, but the strength has not yet reached the levels of previous rounds of increase.”

BTC-3.22%
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