Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Bitcoin Faces Critical Demand Challenges as Q4 Begins

Bitcoin Faces Critical Demand Challenges as Q4 Begins

CryptodnesCryptodnes2024/10/03 08:24
By:Cryptodnes

According to a report from CryptoQuant analysts released on Tuesday, Bitcoin's demand appears to be stabilizing, but significant growth is needed in the fourth quarter to support higher price levels.

Since July, the demand for Bitcoin , which CryptoQuant measures as the difference between the daily block subsidy and the change in the number of BTC that have remained untouched for a year or more, has varied widely, showing a monthly net loss of 23,000 BTC to a gain of 69,000.

Bitcoin Faces Critical Demand Challenges as Q4 Begins image 0

September, however, experienced reduced volatility, with demand gradually increasing throughout the month.

Despite this uptick, analysts believe the growth observed in September was not enough to initiate a sustained price increase. They noted that in April, for example, apparent demand surged by as much as 496,000 BTC while prices were around $70,000, indicating that there is still significant potential for demand growth in the upcoming quarter.

READ MORE:
Here’s How Low Bitcoin Could Go if Geopolitical Tensions Escalate Further

The report also pointed out that the behavior of Bitcoin holders at the beginning of 2024 is reminiscent of patterns from previous halving cycles in 2016 and 2020. Earlier in the year, long-term holders sold portions of their Bitcoin to new investors, which contributed to demand growth, but this momentum slowed during the summer months.

Analysts concluded that if historical trends hold true, demand growth is expected to pick up again, potentially leading to an increase in short-term supply.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

WLFIUSDT now launched for pre-market futures trading

Bitget Announcement2025/08/23 13:50

New spot margin trading pair — SAPIEN/USDT!

Bitget Announcement2025/08/22 10:56

Bitget Will Delist MKR on 2025-08-22

Bitget Announcement2025/08/22 10:15