CryptoQuant asserts "The bear market has arrived"! Bitcoin demand momentum has cooled off, possibly testing the $70,000 level again.On-Chain Data Analytics Company CryptoQuant Issues Warning: Due to a significant weakening in Bitcoin demand momentum, cryptocurrencies may have entered a bear market, and the subsequent downside risk cannot be ignored.
CryptoQuant recently released a report stating: "The growth in (Bitcoin) demand has clearly slowed, indicating that the market is entering a bear market. Since 2023, Bitcoin has experienced three waves of spot demand surges, driven by the US spot ETF listing, the US presidential election, and Bitcoin reserve companies."
However, since early October 2025, this demand growth has fallen below the long-term trend line, indicating that the new buying interest in this cycle has largely been absorbed by the market, causing Bitcoin to lose its key support strength.
Based on the current weak trend, CryptoQuant believes that the downside risk for Bitcoin is gradually emerging, with $70,000 being the first important support level.
区块客·3m ago