Report: Bitcoin buy-side absorption still lacking, short-term traders' unrealized gains narrow to 8.1%

October 27 – CryptoQuant's latest weekly report notes that buy-side support in the Bitcoin market remains insufficient. Its on-chain indicator measuring demand has been negative for 12 consecutive days as of October 25; meanwhile, Coinbase's Bitcoin price remained below Binance's throughout the first 25 days of October, reflecting relatively weak buying in the U.S. market.

The average unrealized gains of the cohort holding for 1 to 3 months also narrowed from 33.4% on September 22 to 8.1% on October 26. However, CryptoQuant's bull market score remains at 60, with 6 of the 10 indicators still bullish; the report considers the current situation closer to a "bull market cooling" and says it is not yet possible to conclude that the market has shifted into a bear market.