According to a recent report by CryptoQuant, Bitcoin (BTC) demand has declined significantly since early April when the price was around $70,000. Bitcoin’s 30-day demand growth has reached 25,000 units compared to 496,000 units in early April. Additionally, Bitcoin whale asset growth has reached very low levels and daily purchases of Bitcoin ETFs in the US have declined. However, stablecoin liquidity is increasing and their total market cap has reached a new record of $165 billion. Additionally, Bitcoin investors are pouring in at an unprecedented rate. The increase in stablecoin liquidity and growing investor demand could be a sign of the possibility of a Bitcoin rally in the coming weeks.
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