US Bitcoin Demand Negative for 78 Days, Citadel Sees Bull Market Reset
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US Bitcoin demand has been negative for 78 consecutive days, a record. Citadel Securities states that July's selloff reset the equity bull market rather than ending it. American speculative money left the market in July, with minimal landing in Bitcoin. Retail investors became net sellers, with the last week of July seeing the heaviest retail equity selling since 2022. Retail sold more tech notional in one week than at any point since January 2019, surpassing the previous record by over 80%. Leveraged ETF assets fell more than 60000 million dollars from their June peak. Citadel expects about 85% of the S&P 500 to be ready to buy back stock by mid-August. However, Bitcoin has not benefited from this reset, with the Coinbase Premium Index negative for 78 sessions at approximately -0.1145%. This index indicates thin US bids. In Q2, US retail focused on AI trades, with tech equities gaining 43.5% while Bitcoin fell 13.4%. Spot Bitcoin ETFs experienced 4900 million dollars in outflows during this period. Although fund flows appear healthier, NYDIG argues that the recovery is hollow, as neither ETF flows nor stablecoin supply confirm it. BTC price is near 63859 dollars, up 2.2% over 24 hours and 1.6% over 30 days, with a market capitalization around 1280000 million dollars.
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