[Opinion: Bitcoin On-Chain Demand Remains Weak; Stronger Demand Needed to Return to $100,000] According to Mars Finance, on January 7th, CryptoQuant analyst caueconomy stated that even if Bitcoin's price returns above $93,000, on-chain demand remains weak, requiring a stronger recovery to support a return to $100,000. With market sentiment still mixed and trading volume low, there have been no solid signs of improvement in demand for a recovery in on-chain activity. However, this situation may now change as the holidays end (when many investors reduced trading).
Opinion: On-chain demand for Bitcoin remains weak; stronger demand is needed to return to $100,000.
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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