Analysis: Bitcoin Futures Demand Surges in Tandem, Caution Advised Against Countering Overbought Conditions, Strongest Rally Fueling Forward Contracts

BlockBeats News, August 25th, CryptoQuant analyst Darkfost stated that over the past 30 days, Bitcoin's total demand has continued to rise, currently standing at around 170,000 BTC, with spot and derivatives demand showing synchronous growth. Despite the significant short-term overbought signals, it is advisable at this point to avoid attempting precise timing. The market seems to have entered a demand-driven impetus phase, while continuing to digest profit-taking pressure. Historical patterns show that phases where spot and derivatives demand grow in sync are often Bitcoin's strongest upward momentum periods.

The analyst emphasized that as long as this demand continues to exist and continues to absorb short-term profit-taking, even when the market enters overbought territory, the upward momentum may still persist. This means that the core observation variable at present is not whether the price is too high, but whether the demand is still effectively absorbing selling pressure. Only when the demand weakens and profit-taking begins to outweigh buying support, the impetus phase may come to an end. Until then, any counter-operations based on overbought signals may contend with strong demand momentum.