Recent data suggests a slowdown in Bitcoin demand, with profit-taking by investors playing a significant role since July. Institutional investors and exchange-traded funds (ETFs) have decreased their interest significantly, leading to a cooling of market sentiment. CryptoQuant reports that institutional investors’ interest has waned considerably, contributing to the observed decline in apparent Bitcoin demand from 174,000 to 59,000 BTC between July and August. This shift is accompanied by a notable drop in ETF purchases since April, with only 11,000 BTC being purchased in the past month. The price of Bitcoin has stabilized around $120,000, coinciding with key support levels at $110,000. A contributing factor is profit-taking from traders reaching a staggering $74 billion. Whale investors are also making substantial profits, amassing $2 billion in just one day in August. These factors have led to a shift towards caution as market sentiment cools. Experts are concerned about the decline in demand and the need for strong support. While some positive developments like increased public awareness about Bitcoin ETFs may be occurring, there is a noticeable lack of reactions or statements from regulatory bodies or prominent figures which has contributed to the cautious optimism.