Svmuu News: CryptoQuant analyst Darkfost posted that Bitcoin’s “Apparent Demand” has remained in negative territory for most of this year, reflecting continued weakness in market demand and serving as a key factor behind the sustained downward pressure on Bitcoin.
Data shows that on June 3, Bitcoin’s apparent demand briefly fell to a year-to-date low of -275,000 BTC, but has since rebounded to approximately -75,000 BTC. Darkfost believes that while the improvement in demand is worth noting, a true recovery in demand will require this metric to consistently return to positive territory.
He explained that the apparent demand metric is calculated as the difference between “newly issued BTC” and “the supply of BTC that has not moved for over a year,” and can be used to measure whether structural accumulation by long-term holders is sufficient to absorb the network’s new supply.At present, while long-term demand has shown some recovery, it has not yet reached a level sufficient to propel the market into a new uptrend.