CryptoQuant flags fading Bitcoin demand as US ETFs sell 24,000 BTC in Q4 2025

On December 19, 2025, CryptoQuant's sentiment analysis indicated Bitcoin's demand has cooled since early October, with U.S. spot ETFs turning net sellers in Q4 2025 and offloading about 24,000 BTC. Derivatives data show reduced risk appetite, while short-term holders face average losses of -14.9% with BTC near $86,700 and a cost basis around $101,800.