On the 6th, Bitcoin (BTC) rebounded to $64,600. However, according to on-chain analyst Axel Adler Jr., two key indicators reflecting supply and demand trends have not improved, indicating that the price rebound is not supported by an increase in new demand.
Adler focuses on the demand-to-issuance ratio and net age flow, both of which remain negative, suggesting that the recent price support is due to a contraction in supply rather than an uptick in market demand.
