Analyst: Bitcoin price rise driven by reduced selling pressure rather than strong demand

CryptoQuant analyst Darkfost reports a divergence between Bitcoin's price and total demand, noting that the recent rally is fueled by easing sell-side pressure rather than a surge in buying. While 30-day cumulative spot demand remains negative at -180,000 BTC, institutional selling has moderated, and ETFs have seen a significant turnaround with net inflows of approximately 70,000 BTC recently. Additionally, net outflows from exchanges throughout September suggest a trend toward accumulation, though the analyst warns that the market structure remains fragile.