Bitcoin drops to $76.4K as demand turns negative and Asian stocks slide

Bitcoin fell to a local low of $76,400 before reclaiming $77,000. CryptoQuant data showed Bitcoin's apparent demand turning negative again after a brief August rebound. U.S. spot Bitcoin ETFs recorded $236 million in outflows the previous day. The indicator measures the difference between newly mined issuance and changes in inactive supply. Positive readings indicate active spot demand. Negative readings mean coins are aging into dormancy faster than miners issue them. The global bond sell-off eased slightly when the U.S. 10-year yield briefly fell below 4.8%. USD/JPY declined to 158.5 from the 160 level. Commentators widely interpreted the move as a sign that another central bank intervention had occurred. No official announcement had been made. Asian equities recorded steep declines. South Korea's KOSPI fell 4.0% to close at 6,562.72. SK Hynix shares fell 4%. Samsung Electronics shares fell 4.7%. Japan's Nikkei 225 fell 2.9% to 64,325.64. SoftBank Group was among the Japanese technology companies that declined. Taiwan's TAIEX fell 1.7%. The Asian equity declines were likely driven by soaring oil prices and further profit-taking in the artificial intelligence sector.