Bitcoin’s apparent demand has turned negative again as short-term holders, defined as investors who bought BTC within the past 155 days, continue taking profits. The reversal followed a brief improvement and indicates that selling by these holders is outpacing fresh buying interest, according to pseudonymous crypto analyst Darkfost, who flagged the shift on X, formerly Twitter. The development adds to concerns that Bitcoin’s recent recovery lacks durable support and could leave the cryptocurrency vulnerable to another decline if demand fails to improve. An earlier CryptoQuant Quicktake report, credited to Minseung Kang, cited on-chain analyst CW8900 saying Bitcoin had entered a phase of contracting spot demand and expanding futures activity while trading sideways after a rally. Traders are watching support levels, demand readings, volumes, technical indicators and macroeconomic developments, including interest-rate expectations, regulatory developments and economic data releases. Negative apparent-demand readings are not a definitive forecast, but a sustained recovery could indicate easing selling pressure, while continued weakness would reinforce the risk of a deeper correction.