{"id":13900,"date":"2026-09-30T10:33:48","date_gmt":"2026-09-30T10:33:48","guid":{"rendered":"https:\/\/cryptonews.uk.com\/?p=13900"},"modified":"2026-09-30T10:33:48","modified_gmt":"2026-09-30T10:33:48","slug":"bitcoins-bull-market-has-an-80000-problem","status":"publish","type":"post","link":"https:\/\/cryptonews.uk.com\/?p=13900","title":{"rendered":"Bitcoin\u2019s bull market has an $80,000 problem"},"content":{"rendered":"

<\/p>\n

\n

Bitcoin\u2019s newly confirmed bull market is already showing signs that the rally powering it may be losing momentum.<\/p>\n

Last week, the top digital asset climbed to an eight-month high near $87,400 after reclaiming a long-term technical threshold that CryptoQuant says marked the start of a fresh bullish phase. Its Bitcoin Bull Score Index has since risen to 90 out of 100, a reading consistent with broadly favorable market conditions.<\/p>\n

In fact, data from Look Into Bitcoin shows that \u201cBitcoin sentiment has hit its greediest reading since July 2025.\u201d<\/p>\n

\"Bitcoin\"Bitcoin
Bitcoin Fear And Greed Index (Source: Look Into Bitcoin)<\/figcaption><\/figure>\n

But beneath that headline strength, the balance between new demand and existing holders looking to cash out is beginning to shift.<\/p>\n

The change does not yet amount to a breakdown in the broader trend. Bitcoin remains above several long-term support levels and has retained much of its recent advance. Still, weakening demand and heavier profit-taking raise the prospect that the market could face its first meaningful test since the bullish breakout.<\/p>\n

Demand fades as spot buying weakens and holders take profits<\/h2>\n

The clearest strain is emerging across the sources of demand that supported Bitcoin\u2019s advance.<\/p>\n

CryptoQuant estimates apparent spot demand contracted by about 170,000 BTC over the past 30 days, suggesting cash-market buying has failed to keep pace with the rally.<\/p>\n

US exchange-traded fund flows point in the same direction. CryptoSlate<\/em> previously reported that ETF daily inflows declined by 97% over the past week, falling from around $1 billion to just $31 million by Sept. 28.<\/p>\n

Speculative demand has cooled even faster.<\/p>\n

CryptoQuant estimates growth in futures demand has fallen to about 16,000 BTC from 164,000 BTC on Sept. 14, removing another source of incremental demand as Bitcoin retreats from $87,400.<\/p>\n

The slowdown is becoming more consequential because existing holders are sitting on increasingly large gains.<\/p>\n

Short-term traders\u2019 unrealized profit margin has climbed to 33%, its highest since December 2024, expanding the pool of gains available to be realized if investors choose to reduce exposure.<\/p>\n

Some have already done so.<\/p>\n

Bitcoin holders realized profits on 25,700 BTC on Sept. 22, the largest single-day total of 2026, according to CryptoQuant, as investors used the rally to lock in gains near the top of the recent range.<\/p>\n

\"Bitcoin\"Bitcoin
Bitcoin Realized Profit Rises to The Highest Level For 2026 (Source: CryptoQuant)<\/figcaption><\/figure>\n

That leaves Bitcoin confronting a widening imbalance: the pace of fresh buying has weakened while the amount of profitable supply available for sale has increased.<\/p>\n

The combination does not establish a cycle top. But another sustained leg higher would likely require spot demand to strengthen enough to absorb profit-taking from holders who accumulated Bitcoin at lower prices.<\/p>\n

Futures take control as liquidation risk flips to Bitcoin longs<\/h2>\n

Bitcoin\u2019s market structure has become increasingly dependent on derivatives even as overall leverage retreats.<\/p>\n

CryptoQuant data shows the spot-to-futures volume ratio on Binance at about 0.12, meaning roughly 90% of combined trading activity is in futures. For every dollar traded in the spot market, roughly $8 to $9 is changing hands through derivatives.<\/p>\n