Bitcoin is still struggling to break through the $65,000 barrier, with intense selling pressure hitting the market at random intervals. But amidst all this volatility, one key onchain indicator has started to stabilize. This could be a sign that spot market demand is about to make a comeback. It’s worth taking a closer look at this indicator to get a better sense of when demand might return. The fact that it’s stabilized suggests that the market might be due for a shift. With this in mind, it’s possible that we could see a revival in demand soon. The question is, what will trigger this revival, and when can we expect it to happen? For now, Bitcoin remains pinned below $65,000, but this onchain indicator is providing some valuable insight into what might happen next. It’s a complex market, and there are many factors at play, but this indicator is definitely one to watch. As the market continues to evolve, it will be interesting to see how this indicator plays out, and what it might mean for the future of Bitcoin.
