Bitcoin’s apparent demand turns negative as price struggles with $77K
Bitcoin fell to a local low near $76,400 in early European trading after US spot Bitcoin ETFs saw $236 million of outflows. CryptoQuant data showed Bitcoin’s “apparent demand” turning negative again, signaling that old coins are aging into dormancy faster than new supply is being absorbed. BTC later recovered above $77,000 but stayed below a resistance cluster. Broader markets were also under pressure. The US 10-year yield briefly dipped below 4.8% as the bond selloff eased slightly, while USD/JPY dropped from near 160 to about 158.5 amid speculation of Japanese intervention. Asian equities sold off sharply, led by South Korea’s KOSPI, which fell 4.0%, alongside losses in Japan’s Nikkei 225 and Taiwan’s TAIEX. The declines were linked to higher oil prices and continued profit-taking in the AI trade.
