Insufficient power supply is a huge challenge for wireless body area network (WBAN). Body channel wireless power transfer (BC-WPT) is promising to realize multi-node high-efficiency power transmission for miniaturized WBAN nodes. However, the behavior of BC-WPT, especially in the multi-node scenario, is still lacking in research. In this paper, the inter-degeneration mechanism of a multi-node BC-WPT is investigated based on the intuitive analysis of the existing circuit model. Co-simulation in the Computer Simulation Technology (CST) and Cadence platform and experiments in a general indoor environment verify this mechanism. Three key factors, including the distance between the source and the harvester, frequency of the source, and area of the ground electrodes, are taken into consideration, resulting in 15 representative cases for simulation and experiments studies. Based on the simulation parameters, an empirical circuit model to accurately predict the received power of multiple harvesters is established, which fits well with the measurement results, and can further provide guidelines for designs and research on multi-node BC-WPT systems.