CryptoQuant: Bitcoin demand is now in acceleration mode again after two months of decline

Odaily News Cryptocurrency analysis firm CryptoQuant said in a report on May 15 that despite the rebound from the low point of the re-accumulation range, Bitcoin demand is once again in "acceleration mode" after a two-month downward trend. The agency said: "Bitcoin demand growth appears to be stabilizing after a deceleration trend since March. The growth of total Bitcoin balances of permanent holders and large investors appears to be in acceleration mode again." However, CryptoQuant added that Bitcoin demand needs to accelerate further for this price increase to continue. It also pointed out that the low Bitcoin balance on OTC trading platforms indicates that demand is strong and exceeds the existing supply. (Cointelegraph)