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Bitcoin Could Drop to $86K as Demand, Network Activity Falter: CryptoQuant

CoinDesk LogoCoinDesk2d ago

Bitcoin Could Drop to $86K as Demand, Network Activity Falter: CryptoQuant - CoinDesk

Quick Summary:

Bitcoin entered the final stretch of its weekly cycle and could bottom soon, a well-followed trader said.

The metric is down 17% from its November 2024 peak and fell below its 365-day moving average for the first time since July 2021, when China banned BTC mining.

With stablecoins often used to buy crypto assets on exchanges, the slowdown indicates a lack of fresh capital entering the market.

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Bitcoin Could Drop to $86K as Demand, Network Activity Falter: CryptoQuant - CoinDesk (Picture 1)Bitcoin Could Drop to $86K as Demand, Network Activity Falter: CryptoQuant - CoinDesk (Picture 2)

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Article Details

Author / Journalist: Krisztian Sandor

Category: Crypto

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-19 @ 18:42:33 (2 days ago)

News Timezone: GMT -5:00

News Source URL: coindesk.com

Language: English

Article Length: 462 words

Reading Time: 3 minutes read

Sentences: 31 lines

Sentence Length: 15 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinDesk

News ID: 26278210

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About CoinDesk

CoinDesk Logo

Main Topics: Crypto

Official Website: coindesk.com

Update Frequency: 4 posts per day

Year Established: 2013

Headquarters: United States

News Last Updated: 9 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT -5:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #8

Publisher Details

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  • URL: https://beamstart.com/news/bitcoin-could-drop-to-86k-17399907247258

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