Ah, the eternal conundrum of the cryptocurrency enthusiast: why, oh why, isn’t bitcoin soaring to dizzying heights? 🚀 Well, dear reader, it seems that the answer lies not in the whims of the market gods, but in the cold, hard data. 🔍
According to the intrepid researchers at Cryptoquant, the culprit behind bitcoin’s stagnation is a sharp contraction in broader market demand. 📉 It seems that the significant accumulation of bitcoin by U.S. exchange-traded funds (ETFs) and companies like Strategy (MSTR) has been offset by a decline in overall demand, effectively neutralizing any potential price gains. 🤯
But wait, you may ask, what about the institutional purchases? Don’t they count for something? 🤔 Well, dear reader, it seems that even the mighty institutional buyers can’t offset the slump in market-wide demand. 💸 According to Cryptoquant’s data, ETF purchases over a 30-day window fell from 86,000 BTC on Dec. 7, 2024, to just 40,000 BTC by early July 2025, a 53% decline. MSTR’s purchases dropped even more drastically, plummeting 90% from a peak of 171,000 Bitcoin to 16,000 bitcoin over the same comparative period. 📉
And what about the annual demand picture, you may ask? 🤔 Well, dear reader, it seems that the trend is reinforced. Cryptoquant’s data indicates apparent demand contracted annually by 857,000 bitcoin. This contraction more than offsets the combined expansion from ETF purchases (+377,000 BTC) and MSTR purchases (+371,000 BTC) over the same yearly period. 📊
So, what’s the takeaway from all this? 🤔 Well, dear reader, it seems that while spot bitcoin ETF and MSTR purchases remain a net positive for BTC’s price, they are insufficient alone to drive prices to new all-time highs. Sustained price rallies require overall demand expansion, which is currently lacking. 📈 The net demand growth for bitcoin is slowing, resulting in consolidation rather than a breakout, as reported by Cryptoquant’s analysts. 📊
And so, dear reader, the next time you find yourself wondering why bitcoin isn’t soaring to dizzying heights, just remember: it’s not the institutional buyers, it’s the demand, stupid! 😜
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2025-07-03 23:57