$BTC CryptoQuant data reveals that demand momentum has hit a record low, dropping by 2 million BTC. Over the past 30 days, demand grew by just 118K BTC — half of what was seen in May. 🐢

Even institutions are showing caution: whale accumulation has slowed to 1.7% monthly 🐋, and daily ETF purchases have dropped from 9,700 BTC in April to just 3,300 now 🏦. Meanwhile, traders are turning bearish, shorting BTC as it slips toward $105K 📉—though some major institutions are still buying. 🏗️