Bitcoin Sluggish Demand Blamed for $10K Plunge In a Week

After hitting a new all-time high just last Thursday, Bitcoin’s price has plummeted by over $10,000 in a week. A new analysis suggests the sharp correction stems from a key factor: a slowdown in demand across the Bitcoin market. Bitcoin Demand Slowing Down Julio Moreno, head of research at on-chain platform CryptoQuant, shared this view in an X post on Wednesday. He stated, “Bitcoin’s overall demand growth slowdown, including purchases from ETFs and Strategy, is behind the current price pause/correction source: https://beincrypto.com/bitcoin-sluggish-demand-blamed-for-10k-plunge-in-a-week/