Bitcoin’s real demand declining despite ETF and MSTR buys

On-chain data platform CryptoQuant analyzed on X that Bitcoin's (BTC) real demand is showing a decreasing trend. The platform noted that while U.S. spot Bitcoin ETFs have bought 377,000 BTC and Strategy (MSTR) has purchased 371,000 BTC, the apparent demand has dropped by 857,000 BTC. CryptoQuant emphasized that Bitcoin will need rising demand to break its all-time highs.