Bitcoin demand is cooling, with a notable shift in investor focus toward ether as the market undergoes a selective phase. After a week of decline, Bitcoin steadied at $114,610, reflecting a 1.4% increase, while ether surged 5.8% to $4,370.73. The CoinDesk 20 index rose by 3.5%, driven by macroeconomic factors impacting investor behavior. OKX's Gracie Lin pointed out a significant drop in Bitcoin demand, with metrics indicating apparent demand fell from 174,000 BTC in July to just 59,000 BTC recently. The market is characterized as being in a 'bullish cooldown' phase, emphasizing profit-taking among investors. Analysts noted that retail enthusiasm for altseason is sharply declining, highlighting a more concentrated investment strategy amid ongoing macro catalysts like the Jackson Hole conference and U.S. inflation data. This shift indicates a preference for resilience in select cryptocurrencies rather than broad speculative moves, aligning with recent trends in institutional investment activity.

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