Analyst: Bitcoin apparent demand has been negative for most of the year, but has recently improved
BlockBeats news, on July 7, CryptoQuant analyst Darkfost published an article stating that Bitcoin's apparent demand has remained in the negative zone almost throughout this year, reflecting continued weak market demand—a major reason for Bitcoin's sustained downward pressure. However, there has been some recent improvement in demand, which helps BTC maintain consolidation within its current price range.
On June 3, Bitcoin's apparent demand dropped to a yearly low of -275,000 BTC, but has since recovered to around -75,000 BTC. Although the improvement is noteworthy, true demand recovery requires this indicator to consistently return to positive territory.
He explained that the apparent demand indicator is calculated by subtracting the supply of BTC that has not moved for over a year from the newly issued BTC, and can be used to measure whether long-term holders’ structural accumulation is enough to absorb the network’s new supply. Currently, although long-term demand has recovered to some extent, it is not yet at a level that can drive the market into a new upward trend.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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