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Bitcoin demand indicator turns negative as BTC struggles under $77K

Cointelegraph links the dip to $236 million in spot Bitcoin ETF outflows and to easing but still volatile bond and equity sentiment.

Reported · Written up by our desk · Market Structure

Bitcoin’s apparent demand indicator has turned negative again, after a brief rebound in August, as BTC slid back below the $77,000 level, Cointelegraph reports. The article says BTC hit local lows of $76,400 in early European trading, then later reclaimed $77,000 but remained under a resistance cluster.

Cointelegraph attributes part of the timing to US spot Bitcoin ETF activity, noting outflows of $236 million on the day prior. It also cites CryptoQuant data showing the apparent demand gauge measuring the difference between newly mined issuance and changes in inactive supply, with negative readings indicating coins aging into dormancy faster than miners issue them.

The report places the move within a wider risk-off backdrop, describing a bond selloff that eased somewhat after the US 10-year yield briefly dipped below 4.8%. It also points to perceived volatility in USD/JPY, where the pair fell to 158.5 from the 160 level that many view as a potential Bank of Japan defense point.

Beyond crypto, Cointelegraph says Asian equities fell sharply, with oil prices and profit-taking in the AI sector cited as likely drivers. South Korea’s KOSPI fell 4.0% to 6,562.72, Japan’s Nikkei 225 dropped 2.9% to 64,325.64, and Taiwan’s TAIEX also finished lower, according to the piece.

Latest closeBitcoin $77,563.82 ▲0.2%|Nikkei 225 66,215.34 ▼0.1%|Kospi 6,835.80 ▲0.2%

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