[Analyst: Current Market Stability is More a Result of Seller Exhaustion Than Genuine Demand Recovery] CryptoQuant analyst Darkfost stated in a post that since the beginning of the year, Bitcoin's performance has been relatively weak. Spot demand has continued to shrink, with the market temporarily driven by futures speculation. This ongoing trend of 'growing futures demand while spot demand continues to decline' is similar to previous bear markets. To restart a sustainable upward trend, futures and spot markets need to align and reach some level of demand consensus. Currently, the total demand for spot and futures is estimated at -127,000 BTC, which remains too weak to restart an upward trend. This indicates that the market's stability is more due to the exhaustion of selling pressure rather than a genuine recovery in demand. Without panic selling accompanied by extremely low trading volumes, a pullback may continue.