BTC demand indicator turns negative as whales shift to selling

According to CryptoQuant, Bitcoin's Apparent Demand, an indicator of real market demand strength, turned negative at the end of March, falling by approximately 63,000 BTC. CryptoQuant explained that this signifies new demand is failing to offset selling pressure from existing holders. Selling by retail and other investors has outpaced institutional buying, and whale addresses have shifted from continuous accumulation to net selling. The platform noted that this selling trend has accelerated since the fourth quarter of last year. Furthermore, weakening demand from U.S. investors has caused the Coinbase Premium to turn negative again.