1127 ET - Bitcoin turns positive, with the cryptocurrency now trading up 0.5% to $64,678. A contraction in spot demand for bitcoin has been a driving factor behind the tumble in prices seen since last year, but that contraction may soon end, says analysts with CryptoQuant in a note. "The 30-day apparent spot demand has recovered from -206K BTC on July 23 to roughly -5K today - on the cusp of turning positive for the first time since February 26, 2026," says the firm in a note. Historically, bitcoin prices have climbed when changes like this occur, the firm says. "When spot apparent demand crosses from negative to positive, bitcoin has historically risen," says CryptoQuant, with the token up 18% over the following 60 days after the switch.
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