CryptoQuant said that since July, the demand for bitcoin spot has continued to rise, with apparent demand increasing by more than 62,000 bitcoins per month. The company also pointed out that this continued demand also preceded the fourth quarter rally in 2020, 2021 and 2024.
CryptoQuant said bitcoin whale and ETF demand is also showing strong momentum. Whale holdings are growing at an annual rate of 331,000 BTC, down 197,000 from 255,000 in Q4 2024, 238,000 at the beginning of Q4 2020, and 197,000 in 2021.
On the other hand, US-listed bitcoin ETFs bought 213,000 BTC in the fourth quarter of 2024, a 71% increase from the previous quarter. Julio Moreno, head of research at CryptoQuant, said a similar increase is possible this quarter.
From a price perspective, CryptoQuant said that Bitcoin needs to break through the "trader-on-chain realized price" of $116,000 to return to the "bull" phase of its cycle. That threshold has now been breached, and Bitcoin is trading at around $117,300. The company expects the price to be in the range of $160,000 to $200,000 this quarter.
CryptoQuant: If demand continues to grow, bitcoin price could reach $16 200,000 in Q4
2025-10-01 18:09:13
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