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CryptoQuant analyst Darkfost stated that institutional demand for Bitcoin is currently at a low level, with spot Bitcoin ETFs having a net 30 day traffic of -2.1 billion US dollars. Strategy has had almost zero demand for Bitcoin for several consecutive weeks, and overall demand for Bitcoin reserve companies has dropped from approximately 6.6 billion US dollars in August 2025 to nearly zero currently. Darkfost pointed out that this trend reflects market pessimism, but when institutional demand is at its lowest, it is often the best time to lay out.