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According to BlockBeats, on December 19, the crypto data analytics firm CryptoQuant released key data on social media, clearly indicating that the current demand surge for Bitcoin is gradually waning. The data shows that in this market cycle, Bitcoin has experienced three waves of spot demand, and the latest demand surge has shown signs of winding down. Notably, since early October, Bitcoin's actual demand has remained below the trend line, failing to meet market expectations. CryptoQuant emphasized that persistent weakness on the demand side usually exerts direct pressure on asset prices. The
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