A key indicator of Bitcoin demand in the cryptocurrency market turned negative at the end of March, causing concern among investors.
According to data shared by the onchain data platform CryptoQuant, the “Apparent Demand” indicator, which measures the true strength of market demand, recorded a decrease of approximately 63,000 BTC.
CryptoQuant analysts stated that this decline revealed that new buying demand was insufficient to offset the existing selling pressure. Specifically, they noted that sales by individual investors and other market participants outpaced purchases by institutional investors.
A more notable development occurred among “whale” investors, as they are known. These investors, who have been accumulating wealth for a long time, have now reportedly shifted to a net selling position, creating additional selling pressure on the market. Analysts emphasized that this selling trend has accelerated since the fourth quarter of 2025.
On the other hand, the weakening demand from US-based investors is also noteworthy. This has led to the Coinbase Premium indicator, which measures the spread between buying and selling prices in US markets, turning negative again. According to experts, this development indicates that US investors’ interest in Bitcoin has decreased in the short term.
Market observers warn that if demand weakness persists, downward pressure on the Bitcoin price could continue. However, the long-term outlook will continue to be shaped by macroeconomic conditions and institutional interest.
*This is not investment advice.
