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Most important information. It is important to determine the cause of the current negative value in spot demand for $BTC . Large investors' holdings are increasing. However,retail investors' holdings are showing a declining trend.They are continuing to sell despite the rising price of $BTC. They have acclimated to the decline and are selling during this uptrends,negative value in $BTC spot demand is caused by retail investors' selling.The important fact is that large investors are still buying.