In today’s crypto update, Bitcoin has recovered strongly over the past week, with demand improving after one of its weakest periods this year.
At the same time, fresh on-chain data suggests the cryptocurrency has reached one of its most important price levels. Analysts believe the next major move will depend on whether bulls can push Bitcoin above the $63,000 resistance zone.
Futures Traders Fuel Bitcoin’s Demand Recovery
CryptoQuant analyst IT Tech has claimed that Bitcoin’s 30-day cumulative demand has staged one of its strongest recoveries of 2026. Using a chart, the analyst showed that the metric stood near -500,000 BTC just a week ago. At the time, demand had fallen to one of its weakest levels of the year. However, the metric has now rebounded to around -75,000 BTC.
This sharp recovery suggests selling pressure has eased significantly. Meanwhile, the futures market drove most of the rebound. The chart shows perpetual futures demand jumped from roughly -295,000 BTC to slightly above zero within days. This sharp reversal indicates that leveraged traders have returned. They are once again betting on higher Bitcoin prices.
At the same time, total market demand also improved after bottoming in early June. Bitcoin recovered from below $60,000 to around $63,000 during the same period. Although overall demand remains slightly negative, the latest rebound points to improving market sentiment. It also suggests buyers are gradually regaining control.
Spot Demand Still Needs to Catch Up
Despite the strong recovery, spot demand remains weak at around -78,000 BTC. The data shows that many long-term investors have not returned to the market. Instead, they continue to stay on the sidelines and wait for stronger confirmation before buying Bitcoin.
Meanwhile, the gap between futures and spot demand remains wide. Futures traders reacted quickly to improving market conditions. They aggressively increased their positions and pushed futures demand back into positive territory. In contrast, spot investors have remained cautious despite the recent rebound.
Because of this divergence, IT Tech believes the recovery is encouraging but not yet complete. The analyst noted that Bitcoin’s strongest and most sustainable rallies have historically started when both futures and spot demand rise together. For now, derivatives traders have driven most of the recovery. Therefore, IT Tech believes stronger participation from spot buyers is still needed to support a lasting Bitcoin rally.
Bitcoin Nears Key Price Levels
Meanwhile, market expert Ali Martinez has identified the $63,000 region as Bitcoin’s make-or-break level. Sharing data from Glassnode, the analyst revealed that $63,111 is Bitcoin’s largest realized supply cluster. As a result, it has become one of the network’s most important price levels.
Interestingly, Martinez noted that roughly 623,000 BTC last changed hands for around $63,111. This means many investors have their cost basis near that level. Consequently, many holders could sell at breakeven if Bitcoin reaches the zone. That could increase selling pressure and make $63,000 a tough resistance level.
However, if Bitcoin fails to break above $63,000 and drops below $59,000, Martinez believes the next major support sits at $46,000. Around 115,000 BTC previously changed hands at that level. Meanwhile, according to CoinMarketCap, Bitcoin currently trades near $63,000, up 1.2% over the past 24 hours.
The CoinRemark Team
