Bitcoin Demand Turns Red: Negative Indication Raises Downside Risk
Bitcoin demand has turned negative, according to CryptoQuant's 30-day demand indicator. This metric, highlighted by analyst Darkforest, measures the difference between newly issued BTC and older supply returning to active circulation.
The indicator fell towards negative 80,000 BTC after briefly recovering in August, when it reached positive demand near 40,000 to 45,000 BTC. The average demand had remained negative through most of 2026, with June recording the highest contraction, where demand dropped by around 270,000 BTC while Bitcoin traded near $58,000 to $65,000.
Bitcoin buyers are struggling to absorb new supply as demand turns negative again, weakening momentum around $78,000. Traders now face a key question: whether fresh demand returns before another downside move develops.