The current phase of negative demand indicates BTC distribution, which has historically led to temporary corrections but has not always signaled a trend reversal. Currently, demand has declined by approximately -140K BTC, which is significantly lower than previous crisis outflows (-268K BTC, -437K BTC).



Despite localized pressure, the scale of the current decline does not threaten the broader bull market. It appears to be more of a short-term profit-taking event following the new ATH (~$109K) and a reaction to macroeconomic factors.

The Federal Reserve maintains a tight monetary policy, while inflation data has exceeded expectations, prompting markets to adjust their rate forecasts. This exerts pressure on risk assets, including BTC.
BTC5,28%
NOT7,16%
ATH4,59%
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