⛔️⚠️🛑Here's a breakdown of the factors contributing to the drop in Bitcoin demand since April:🔻🔻🔻 🌏⤴️🪙$BTC

1. _Decrease in spot ETF purchases in the U.S._ 📉: Fewer investors are buying Bitcoin through exchange-traded funds (ETFs), which are financial products that track the price of Bitcoin.

2. _Decreasing whale holdings_ 🐳: "Whales" are large-scale Bitcoin investors. If they're selling or reducing their holdings, it can impact demand.

3. _Long-term holders accumulating at record rates_ 📈: Despite the drop in demand, long-term investors are still buying and holding Bitcoin, which could be a sign of confidence in its future value.

4. _Short-term holders suffering unrealized losses_ 😬: Investors who bought Bitcoin during the 2024 rally are now experiencing losses due to the price drop.

5. _Surge in Bitcoin mining costs_ 💸: The cost of mining Bitcoin has increased significantly due to:

- _Operational expenses_ 📊: Higher costs for miners to operate.

- _Mining difficulty increases_ 🔒: The computational power required to mine Bitcoin has increased, making it more challenging and expensive.

These factors combined have led to a decrease in Bitcoin demand since April 📉. However, long-term holders continue to show confidence in Bitcoin's potential, accumulating it at record rates 💪.