Bitcoin Price Falls Below $64K Amid Weakening Demand and Selling Pressure

Bitcoin's price has been affected by a combination of weak market demand and selling pressure from short-term holders. According to CryptoQuant analyst Darkfost, global Bitcoin demand has reached its weakest level since the previous bear cycle, with spot demand falling to -272,000 BTC on a 30-day cumulative basis.

The analyst attributed this weakness to a challenging macroeconomic backdrop, including elevated bond yields, inflationary pressures, and growing geopolitical uncertainty. This environment has led to available liquidity flowing more towards equity markets driven by tech and AI, or even into Forex and precious metals.