On-Chain Data Signals Weakening BTC Sell Pressure as Spot Demand Recovers

Bitcoin moved higher this week, touching a one-month high at $74,000 as selling pressure across crypto markets eased. A report from the on-chain analytics platform CryptoQuant said reduced supply from sellers and improving demand signals helped support the short-term rebound. One indicator of the shift is the change in apparent spot demand for Bitcoin. According to the analytics firm, demand contraction stood at abou…