Bitcoin's onchain demand indicator has turned negative once again following a brief rebound in August, according to CoinTelegraph. This shift occurred as Bitcoin’s price dropped below the $77,000 mark amid a widespread sell-off in bonds and equities.
The decline in Bitcoin’s demand indicator suggests weakening momentum in the cryptocurrency market, reflecting broader risk-off sentiment affecting multiple asset classes. This movement aligns with the current pressure on traditional markets, where investors are reducing exposure amid uncertainty.
For Japanese investors, who closely monitor correlations between global equities and digital assets, this development underscores the need for cautious positioning as both crypto and traditional markets face volatility.