Bitcoin Rally Faces Momentum Shift as Spot Demand Cools

Bitcoin's recent climb to an eight-month high near $87,400 is showing signs of weakening momentum. While the asset remains above key support levels, data from CryptoQuant and Look Into Bitcoin indicates a decline in spot demand and a 97% drop in daily ETF inflows as of September 28. Additionally, speculative interest in futures has cooled significantly, and short-term traders are increasingly taking profits.