Cryptoslate reported that while BTC showed price resilience despite the Fed's interest rate hike, its four major demand channels, including ETF outflows and on-chain indicators, are all weakening.
1. Realized Market Cap: The growth trend of capital inflow, which continued for 27 days, has broken, showing the first daily decrease.
2. Spot ETFs: Recorded a net outflow of over $400 million on September 15th alone.
3. Stablecoin Supply: Stagnated at around $301 billion, halting liquidity expansion.
4. Public Company Buying: Only purchased a total of 5,900 BTC over three months.
