Darkfost, an analyst at on-chain analytics firm CryptoQuant, published an analysis of Bitcoin demand trends on X on the 8th, saying that combined spot and futures demand has returned to positive territory, exceeding 14,000 BTC. Spot demand remains slightly negative at minus 17,000 BTC, but the shortfall has narrowed by more than 90% compared with minus 207,000 BTC as of September 20. Futures demand has been roughly flat in recent days, averaging 32,000 BTC, and the swing in total demand to positive is due to the narrowing spot shortfall while futures held steady. Darkfost described the current picture, in which demand is recovering while prices fall, as a positive setup.
BitcoinAnalyst reports total Bitcoin spot+futures demand turned positive above 14,000 BTC as the spot demand shortfall narrowed over 90%.
