Bitcoin Apparent Demand Turns Negative as Price Faces Resistance at $77,000

Bitcoin's apparent demand indicator has shifted back to negative, signaling a decline in spot market buying power. The price is struggling to maintain the $77,000 level, having dipped to a local low of $76,400. This downward pressure follows significant outflows from U.S. spot Bitcoin ETFs, which recorded $236 million in net outflows in the previous session. According to CryptoQuant, a negative apparent demand reading indicates that tokens are entering long-term dormancy rather than being absorbed by market participants, reflecting weak spot demand.