PANews reported on May 31 that according to Cointelegraph, the latest research report from the on-chain analysis platform CryptoQuant shows that Bitcoin demand has peaked and may fall back below $100,000. Profit-taking has interrupted the Bitcoin bull market. Some demand indicators for Bitcoin may be reaching a short-term peak, which may mean that the current rally will be suspended, and the accumulation of whales is also slowing down. The price may fall below $100,000. Trader Mags analyzed: On the daily chart, BTC has fallen below its previous historical high and is facing rejection at the same level. If BTC closes below the horizontal support and resistance levels on the weekly chart, it may see a deeper correction.