Bitcoin demand situations have proven enchancment not too long ago; nonetheless, they’re nonetheless weak regardless of bitcoin’s newest rally.
Over the previous week, bitcoin (BTC) has rebounded, with the worth approaching sure essential thresholds. Regardless of this rally within the asset’s worth, analysts on the crypto analysis agency CryptoQuant imagine the market, led by BTC, has not escaped the bears’ claws.
In a weekly report from CryptoQuant, market specialists famous that BTC demand situations have improved not too long ago. Nonetheless, they’re nonetheless weak and haven’t modified considerably. This substantiates the declare that the market remains to be in a bearish part regardless of bitcoin’s newest rally.
Bitcoin Sees Bear Market Rally
Since November 21, 2025, BTC has risen by roughly 20% to its present ranges. The rally follows a 19% decline that confirmed the beginning of a bear market as BTC fell beneath its 365-day transferring common (MA). The surge introduced the main cryptocurrency close to its 365-day MA, presently sitting at $101,000.
Traditionally, the 365-day MA has acted as a regime boundary with earlier bear cycles displaying repeated rejections close to that stage earlier than renewed downward motion. BTC recorded the same sample within the 2022 bear cycle, and this time is not any totally different.
The rally in bitcoin’s worth comes amid barely improved however weak demand situations. In actual fact, spot demand remains to be contracting. U.S. spot indicators, such because the Coinbase Worth Premium and spot Bitcoin exchange-traded funds (ETFs), briefly turned optimistic. The Coinbase premium briefly elevated from deep destructive territory for the second time since mid-December 2025.
Bitcoin Demand Stays Weak
On the ETF entrance, there may be nonetheless no extraordinary exercise. These merchandise merely stopped internet promoting throughout the rally, after offloading as a lot as 54,000 BTC over a 30-day interval in November 2025. Spot Bitcoin ETFs haven’t indicated a powerful return of U.S. demand or proven sustained accumulation.
Moreover, obvious demand metrics reveal that Bitcoin spot demand has contracted by 67,000 BTC during the last 30 days and has been in destructive territory since November 28, 2025. Spot Bitcoin ETFs within the U.S. have bought solely 3,800 BTC to this point this 12 months, in comparison with 3,600 on the identical time final 12 months – ranges beneath thresholds related to bull-market recoveries.
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In the meantime, analysts say BTC could face elevated promoting stress within the coming weeks, as alternate flows have begun to rise after the latest rally. Bitcoin transfers to exchanges have spiked to a seven-day common of 39,000 BTC. Elevated flows into exchanges are traditionally related to escalating promoting exercise, so there could also be extra hassle for BTC forward.
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