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Coinjie.com reports that Wu said on Twitter that soaring real interest rates and slowing inflows into spot ETFs are causing Bitcoin demand to weaken. The AER indicator, which measures institutional demand and miner selling pressure, plummeted from 5.3 times in late February to 1.3 times, barely absorbing the 450 BTC of new issuance daily. The 10-year TIPS yield hit its highest level since June 2025, and combined with rising oil prices tightening the financial environment, this may limit Bitcoin's short-term rebound potential.