Part 10/11:
Demand & Utility: Buybacks won't move the needle if the underlying demand for the token is weak or if the project lacks real utility.
Market Conditions: In bear markets, even aggressive buybacks might struggle to counteract downward pressure.
Conclusion: Are Buybacks Truly Bullish?
Buyback mechanisms, especially when combined with token burns, typically add a bullish dynamic—reducing supply and signaling confidence. Yet, their actual impact hinges on execution and broader market factors.