1. Demand for the coin: Where there is a well tilted balance between the supply of a coin to its demand, the price becomes Bearish. The higher the demand, the bigger the price
Then lastly, For bitcoin price it doesn't work that way if you think of the demand currently the bitcoin total supply is extremely low yet the price dropped to $18k from it previous of $68k. Now tell me was it the low demands or higher supply that causes it? No, because if i may get it correctly is a season that remains constant that can not be changed in the cryptocurrency market at large that effectualized the trading circle. Any of you may correct me if i am wrong, although what you said only works in some cases but not with bitcoin entirely