Bitcoin Demand Flips Negative as $77,000 Becomes the Market’s Immediate Test

By Isaac • September 2, 2026 3:11 pm •

Bitcoin is back above $77,000, but one of the market’s cleaner demand gauges just flashed a warning that the rebound still lacks conviction.

Cointelegraph reported that Bitcoin fell to a local low near $76,400 during Wednesday’s early European session before recovering the $77,000 level. The more important detail was beneath the price: CryptoQuant’s 30-day apparent-demand measure slipped back into negative territory after briefly improving during August.

Apparent demand compares newly mined Bitcoin with changes in the supply that has remained inactive. A positive reading suggests the market is absorbing new issuance while older coins return to circulation.

A negative reading means dormant supply is growing faster than miners are adding coins, a sign that fresh spot