US Bitcoin demand has remained negative for a record 78 days while Citadel Securities views July’s equity selloff as a positioning reset.
US Bitcoin demand has been negative for 78 consecutive days, marking a record streak as speculative capital exits the market. Meanwhile, Citadel Securities interprets July’s equity selloff as a rotation rather than a structural shift, with retail investors leading the retreat.
Retail selling in tech equities hit its highest level since January 2019, surpassing the prior record by over 80%. Leveraged ETF assets fell by more than $60 billion from their June peak, with semiconductor products shrinking nearly 55% in a month. Citadel argues the selloff normalized positioning without ending the bull market.
Despite the equity reset, Bitcoin has not rebounded, remaining detached from the broader risk-on rotation. CoinGlass data shows persistent outflows from Coinbase, reinforcing the divergence between crypto and traditional markets.