Bitcoin is showing mixed signals in this period. The leading cryptocurrency is currently trading at $108,202.21, marking a modest 0.77% gain over the past 24 hours. While momentum remains steady on the surface, some underlying indicators suggest it’s a moment to watch closely.

According to market data, BTC’s apparent demand has turned negative, a metric that compares new buyer interest against selling pressure from miners and long-term holders.

Selling Pressure Mounts as Demand Weakens

The apparent demand figure acts like a pulse check for Bitcoin’s market health. When it drops into the red, it means supply is outpacing demand—fresh coins are hitting the market faster than buyers are willing to scoop them up. CryptoQuant analysts confirmed that selling from miners and long-term holders (often referred to as “smart money”) is now overwhelming inflows from new participants.

This sort of imbalance has historically preceded market corrections. As supply floods in and demand falters, confidence takes a hit. Right now, Bitcoin’s valuation stands in neutral territory, says analyst Axel Adler, suggesting indecision across the board.

BTC also faces tough resistance at $110,000 and $106,000, levels that could become roadblocks if sentiment doesn’t shift soon. If Bitcoin fails to reclaim or surpass these zones, it might lose steam fast, giving sellers the upper hand.

Altcoin Reaction: $PSG Holds Steady, $JUV and $CITY Retreat

Meanwhile, top Fan Tokens have shown mixed reactions to Bitcoin’s market behavior. The Paris Saint-Germain Fan Token ($PSG) edged up 0.83%, indicating resilience despite BTC’s shaky signals. On the flip side, Juventus Fan Token ($JUV) slipped 0.28%, while Manchester City Fan Token ($CITY) recorded a 1.93% drop.

These tokens often ride the wave of broader market mood, and Bitcoin’s demand weakness could drag sentiment across related sectors.

While fan tokens typically follow unique catalysts, club news, partnerships, or match outcomes, they remain sensitive to macro crypto movements. If Bitcoin struggles to stay above its current levels, more fan token volatility may follow.

Caution Ahead, Signals Mixed

Meanwhile, the market sits at a crossroads. Bitcoin is facing resistance with a significant decrease in demand as smart money appears to be exiting or rebalancing. Unless there is an uptick in demand or buyer activity, investors or traders need to be on alert for any further market downturn.

On the other hand, Fan Token holders should also watch Bitcoin closely. While club-related hype may offer short-term boosts, long-term performance still depends on broader crypto sentiment, and right now, the signals are more cautious than confident.