CryptoQuant: Bitcoin demand remains weak, but the price may rebound to between $71,500 and $81,200

According to Theblock citing CryptoQuant data, although some institutional buyers are still continuing to purchase, the spot demand for Bitcoin remains in a "deep contraction" state. As of late March, the 30-day apparent demand has decreased by approximately -63,000 BTC, indicating that the selling pressure in the market is still stronger than the buying pressure.

CryptoQuant stated that if the conflict between the U.S. and Iran eases, the price of Bitcoin could rise to the range of $71,500 to $81,200, which are key resistance levels in a bear market.