Analysis: Weak demand for Bitcoin, short-term rebound depends on ETF support

MeNews · 2026-04-09T02:10:33+00:00

Recently, institutional Bitcoin buying has approached a historical high, with ETFs and Strategy collectively accumulating 94k coins, but the market net demand is -63k coins, and other participants have sold 157k coins. Market sentiment is extremely panicked, demand is weak, and the bottom relies on ETFs to absorb the supply.

MeNews

2026-04-09 02:10:33

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ME News update: On April 5 (UTC+8), CryptoQuant data shows that Bitcoin’s recent institutional buy orders are approaching historical highs. Over the past 30 days, the combined ETF and Strategy accumulated about 94,000 BTC, but overall net demand in the market is still -63,000 BTC, while other participants’ selling has reached as high as 157,000 BTC. Whales have shifted from the largest buyers to intense selling, with 18-month holdings fluctuating by nearly 400,000 BTC; the pace at which intermediate-term holders are accumulating has slowed sharply. The BTC spot price is trading at a 21% premium versus the realized price; it has not yet reached the historical “true bottom” signal, and the premium is narrowing rapidly. Market sentiment is mired in extreme panic, which is at odds with institutional capital inflows. This round of drawdown is about 47%, and volatility has narrowed compared with historical cycles. The bottom depends entirely on ETF absorption, and overall demand-side conditions remain persistently weak. (Source: PANews)

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