Bitcoin (BTC) Demand Revival: Crypto Daybook Americas
Bitcoin bounced, supporting altcoins, as key demand metrics hit a three-month high despite cautious derivatives trading.Summary
Bitcoin (BTC) rebounded from early lows, providing support for altcoins like Ether and Solana, while liquidity shifted from privacy coins to smaller projects. The significant development is the 'apparent demand' metric, which tracks net cumulative demand over 30 days, recently flipping positive to a three-month high of 5,252 BTC ($549 million). This aligns with a $523 million net inflow into U.S. spot Bitcoin ETFs on Tuesday. However, derivatives markets show caution, with funding rates below average, signaling subdued risk appetite, possibly due to uncertainty surrounding the drawn-out U.S. government shutdown. Traditional markets also show strain, as gold's bounce stalled amid rising volatility in Treasury notes, which typically pressures risk assets like crypto.
(Source：CoinDesk)