Bitcoin demand is showing signs of slowing after a period of rapid growth, with prices nearing $112,000. According to Julio Moreno, head of research at CryptoQuant, spot demand growth has decelerated and is now below historical trends. Purchases by whales and ETFs have halved, and new investor interest is waning. In the futures market, investors are taking profits and establishing new short positions. If demand remains weak, Bitcoin may find support around $92,000, aligning with traders' on-chain cost price. Should this level fail, the next support could be at $81,000, near the lower boundary of traders' cost price.