The post Bitcoin Price Eyes Rally To $90k As BTC’s Demand Bounces From Negative Zone appeared on BitcoinEthereumNews.com.

Bitcoin price is eyeing a potential rally toward $90,000, following a bounce in its apparent demand from a previously negative zone. This uptick in demand has prompted some to speculate on the start of a new bullish phase. However, experts urge caution, as the market is still far from confirming a full trend reversal. Bitcoin Price Apparent Demand Shows Signs of Recovery Bitcoin’s apparent demand has shown signs of recovery, bouncing from a negative sentiment that had dominated the market for weeks. The 30-day sum of apparent demand has recently moved into positive territory, hinting at a possible shift in Bitcoin’s market behaviour. However, while the recovery is encouraging, some analysts caution that it may not yet signal the start of a complete market reversal. BTC/USD price chart (source: Cryptoquant) Looking at past cycles, similar patterns were followed by extended periods of consolidation, which prevent any quick conclusions about the rally’s sustainability. As observed during the 2021 cycle, an initial demand bounce was often followed by months of sideways movement before a proper recovery is achieved.  Thus, while the recently notable performance cannot be denied, it still raises the question of whether the uptrend will continue. BTC Hashrate and Network Confidence With the increased apparent demand, Bitcoin’s hash rate is also rising. This increase means higher optimism among miners despite BTC/USD’s sideways trend. A higher hash rate points to increased network security and more distributed mining, both of which are positive for Bitcoin in the long run. “Bitcoin’s hashrate continues to explode to new highs,” noted analyst Miles Deutscher. “This signals increased network security, miner confidence, and potentially more decentralization, all of which are bullish signs for Bitcoin.”  This trend supports the idea that Bitcoin remains a solid investment despite price fluctuations. With higher hashrates, Bitcoin’s security and decentralization improve,…

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Filed under: News - @ April 15, 2025 2:24 am