The apparent demand for Bitcoin (BTC) in India has hit its lowest level in 2025, dropping into negative territory as traders and investors adopt a cautious approach towards risk-on assets due to macroeconomic uncertainty. According to CryptoQuant’s Bitcoin Apparent Demand metric, the demand for Bitcoin reached a negative 142 on March 13. Bitcoin’s apparent demand had been positive since September 2024, peaking in December 2024 before gradually declining. However, demand levels remained positive until early March 2025 and have been decreasing since then. Concerns about a prolonged trade war, geopolitical tensions, and persistently high inflation, despite a slight cooling, are causing traders to retreat from riskier assets into safer havens like cash and government securities. The post-election excitement has waned following mixed reactions from investors to the White House Crypto Summit on March 7, as the realities of macroeconomic uncertainty and the political process sink in. Despite lower-than-expected CPI inflation figures reported on March 12, the price of Bitcoin decreased immediately after the news. Crypto exchange-traded funds (ETFs) have experienced four consecutive weeks of outflows since February as traditional financial investors seek safety. Outflows from crypto ETFs totaled $4.75 billion over the last four weeks, with BTC investment vehicles recording $756 million in month-to-date outflows. Poor market sentiment and fears of an impending recession triggered a wave of panic selling, causing crypto prices to plummet. Since the Trump inauguration on Jan. 20, the Total3 Market Cap, excluding Ether (ETH) and BTC, has dropped by over 27% from over $1.1 trillion to around $795 billion. Additionally, the price of Bitcoin has fallen by over 22% from a high of over $109,000. Bitcoin has been trading below its 200-day exponential moving average since March 9, with intermittent dips below during February. The Average True Range (ATR) for Bitcoin currently exceeds 5,035, indicating significant price volatility as markets grapple with macroeconomic factors. Crypto analyst Matthew Hyland has suggested that Bitcoin must secure a weekly close of at least $89,000 to avoid further corrections to $69,000. This article does not provide investment advice, and readers are encouraged to conduct their research before making any decisions.