Analyst: Bitcoin demand is currently weak; if it does not improve, it may enter a correction phase.

BlockBeats news, September 11: CryptoQuant analyst Darkfost posted that Bitcoin's current demand situation is deteriorating, making it difficult for the price to sustain its current level. Data shows that Bitcoin spot demand is negative 145,000 BTC, with the negative trend remaining stable; although futures demand is still positive 74,500 BTC, it has clearly weakened.

Institutional investors, affected by the current macroeconomic environment, lack confidence in taking on Bitcoin risk, and the Coinbase Premium Index has dropped to -0.036 and is showing a clear negative trend. In terms of ETF fund flows, Bitcoin, Ethereum, and Solana ETFs saw net outflows of $282 million, $29.9 million, and $500,000, respectively, while XRP ETF saw a net inflow of $5 million, with an overall net outflow of $308 million, the worst performance in the past two months.

If the demand situation does not improve quickly, the crypto market may enter a correction phase. Current macroeconomic and geopolitical news are the main drivers of the market, and attention also needs to be paid to the impact of rapidly rising bond yields.