CryptoQuant has released a new analysis examining the current state of the Bitcoin market. The report highlights that the observed cooling in the futures market indicates positive trends for Bitcoin.
Futures Market and Its Influence on Bitcoin
In recent months, Bitcoin had surged to levels of $70,000–$90,000, accompanied by high volatility in the futures market. Previously, such periods frequently led to price corrections or sideways movements. However, according to CryptoQuant, the current price action appears different.
Demand Data and Trading Volumes
Although Bitcoin has reached prices of $123,000, speculative pressure in the futures market seems to be easing. The company’s published ‘volume bubble map’ shows intense red areas giving way to calmer zones in gray and green, indicating that leveraged positions are being reduced, and investors are becoming more risk-averse.
Prospects for Bitcoin Growth
CryptoQuant notes that on-chain data supports this view. The market's cooling after overheating suggests that prices are being supported by organic demand rather than excessive leverage. The normalization of futures volume while Bitcoin continues to trade above $100,000 is seen as a positive signal supporting the bullish trend.
According to CryptoQuant, if the current low speculative pressure continues, Bitcoin could reach a new all-time high above $123,000.
