Bitcoin Demand Slips as Price Faces $77,000 Resistance

Bitcoin is facing fresh pressure this week as onchain demand indicators show a decline. After a brief period of growth in August, the momentum has cooled off, leaving the price struggling to hold steady above $77,000.

This shift in sentiment follows a wider selloff across traditional bond and equity markets. Investors often look to these broader trends to gauge how much risk they want to take with digital assets, and the current mood remains cautious.

Traders are now watching the $77,000 level closely to see if buyers can step back in to support the price. If the negative trend in onchain data persists, the market may see further sideways movement or a search for stronger support levels below the current range.