Bitcoin Drops to $76.4K as Demand Turns Negative, Asian Stocks Slide
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Written by Charles Bennett, staff editor; Reviewed by Sam Bourgi, staff writer
Bitcoin’s apparent demand turns negative as price struggles with $77K
Markets
Published: Sep 2, 2026
One of Bitcoin’s onchain demand indicators turned negative again after a brief August rebound, as BTC price slipped below $77,000 amid a broader bond and equities sell-off.
Bitcoin (BTC) sold off into the early European trading hours on Wednesday to hit local lows of $76,400, per data from CoinGecko.
Key points:
- Bitcoin’s apparent demand indicator turns negative again, with BTC price dropping to a local low of $76,400 before reclaiming $77,000.
- USD/JPY drops sharply to 158.5, sparking speculation that another yen intervention has taken place.
- Asian equities sell off sharply as South Korea’s KOSPI falls 4.0% to 6,562.72 and Japan’s Nikkei 225 drops 2.9% to 64,325.64.
Bitcoin’s apparent demand flips negative again:
The move in BTC came after US spot Bitcoin exchange-traded funds (ETFs) recorded outflows of $236 million the day prior. Data from CryptoQuant now shows Bitcoin’s apparent demand turning negative once more after a brief reprieve during the August rally. The indicator measures the difference between newly mined issuance and changes in inactive supply, with positive demand implying active spot demand.
At press time, BTC has reclaimed $77,000 but remains pinned under a cluster of resistance:
…that we have previously reported on.
Bonds and Asian equities sell off:
The global bond rout that Cointelegraph reported on Monday eased slightly as the US 10-year yield briefly dipped below 4.8%. There was unusual price action in the USD/JPY pair at 13:00 UTC, leading some to speculate about another central bank intervention. USD/JPY declined to 158.5, retreating from the psychological 160 level widely seen as a line the Bank of Japan (BOJ) will defend. No official announcement has been made at the time of writing.
Asian equities suffered steep declines:
Likely driven by soaring oil prices and further profit-taking in the AI sector. South Korea’s KOSPI led the decline, falling 4.0% to close at 6,562.72 as chipmakers SK Hynix and Samsung Electronics shed 4% and 4.7%, respectively. Japan’s Nikkei 225 fell 2.9% to 64,325.64, dragged down by tech heavyweights including SoftBank Group, an OpenAI investor. Taiwan’s TAIEX rounded out the losses with a 1.7% drop.
Related:
- Bitcoin lows pierce $63K as Asia chip-stock crash spreads to Wall Street
- As credit spreads on hyperscalers rise significantly, first cracks show on the US side of the AI trade