Bitcoin Recovery Stays Uneven as Spot Demand Weakens and Exchange Reserves Rise
- —Exchange reserves rose to about 2.68 million BTC from 2.67 million in early October
- —30-day spot demand turned negative while perpetual futures demand stays positive
- —The 100–1,000 BTC cohort remains a net accumulator, though below late-September peak
- —Holders above 10,000 BTC remain net negative
Why it matters: A durable bitcoin recovery needs positive spot demand and broader accumulation, not just futures-driven activity.
Source: Blockonomi