- Bitcoin demand turns negative, weakening momentum as buyers struggle to absorb supply.
- BTC faces downside risk near $78K as weak demand and profit-taking pressure builds.
- Negative demand and macro pressure raise risk of BTC falling toward $74K support.
Bitcoin buyers are struggling to absorb new supply as demand turns negative again, weakening near-term momentum around $78,000. Traders now face a key question: whether fresh demand returns before another downside move develops.
Bitcoin Buyers Face Negative Demand Warning
CryptoQuant’s 30-day demand indicator turned negative after briefly recovering in August. The metric, highlighted by analyst Darkforest, fell toward negative 80,000 BTC after reaching 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. At that point, demand dropped by around 270,000 BTC, while Bitcoin traded near $58,000 to $65,000.
The indicator compares newly issued BTC with older supply returning to active circulation. Negative readings indicate that active supply is increasing faster than fresh demand can absorb.
Weak Demand and Macro Pressure Weigh on Bitcoin
Bitcoin recently failed to hold above its multi-month high near $82,000. The price later slipped toward $76,600 before stabilizing. That retreat occurred as apparent demand fell below zero, linking weaker momentum to weaker absorption.
Financial conditions added pressure during the same period. The U.S. 10-year Treasury yield reached about 4.784% amid hawkish Federal Reserve expectations. Markets priced a 66% probability of a September rate hike, while WTI crude reached about $88.
The immediate support zone sits around $77,000. A break could expose $74,000 and $72,000 as the next downside levels. Such a move would show that Bitcoin buyers failed to take in supply around the current range.
What Would Confirm a Demand Recovery
A sustained recovery would require demand to move back toward zero and turn positive again, signaling that fresh buyers are absorbing returning supply. Until that shift occurs, Bitcoin may remain vulnerable to further downside pressure.
Related: Bitcoin Recovery Stalls as Buyers Stay Away and Leverage Builds
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