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

MeNews · 2026-04-08T15:40:03+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

2026-04-08 15:40:03

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ME News message 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 total net accumulation by ETFs and Strategy amounts to about 94k BTC, but overall market net demand remains at -63k BTC, while other participants have sold as much as 157k BTC. The “whale” shifted from being the largest buyer to making aggressive sell-offs, with 18-month holdings fluctuating by nearly 400k BTC; the pace of accumulation by intermediate holders has slowed significantly. The BTC spot price trades at a 21% premium to the realized price, which is not a true historical bottom signal, and the premium is rapidly narrowing. Market sentiment is mired in extreme fear, diverging from institutional capital inflows. This drawdown is about 47%, volatility has narrowed compared with historical cycles, and the bottom relies entirely on ETF absorption, with the overall demand side remaining persistently weak. (Source: PANews)

BTC3.46%

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