Retail Investors Flood Market with BTC as Demand Turns Negative

Bitcoin's demand metric has turned negative as retail investors who hold less than 10 BTC are selling coins at high rates during price rallies, rather than accumulating. This selling pressure from retail investors is combined with weak institutional buying and outflows from US spot Bitcoin ETFs, which have kept demand suppressed throughout 2026.

Although some large holders, or 'whales,' have bought during price dips, their activity hasn't been enough to offset retail selling. The sustained negative demand suggests ongoing challenges for Bitcoin's price recovery in the near term.