Bitcoin spot demand turns negative again as retail investors take profits

Bitcoin’s on-chain apparent demand, a metric used to gauge spot demand, has turned negative again as retail investors continue taking profits even as BTC rebounds, Crypto Briefing reported, citing CryptoQuant data. The outlet said the indicator improved in August and briefly moved back into positive territory, but turned negative again around Sept. 1 as retail profit-taking resumed. That suggests selling by existing BTC holders is outpacing fresh buying demand entering the market, while institutional demand has yet to show a clear recovery.