Cryptocurrency analyst Darkfost analyzed that macroeconomic conditions are causing a weakening in Bitcoin demand, and an overall adjustment in the cryptocurrency market is expected unless this situation improves rapidly. He stated, "Bitcoin spot demand is in a difficult situation to maintain its current level. Over the past 24 hours, the spot demand indicator has turned negative, and while futures demand still remains positive, the trend is clearly weakening. From the perspective of institutional investors, the current macroeconomic situation is not favorable for taking on the risk of assets like Bitcoin. The Coinbase Premium Index has also been negative for several days. In the US ETF market, net outflows are observed across Bitcoin and other cryptocurrency ETFs. Consequently, the current market is being driven by macroeconomic and geopolitical news. There is also a possibility that the White House may announce some measures to calm the surge in bond yields."
