BlockBeats report: On July 7, CryptoQuant analyst Darkfost posted that Bitcoin's apparent demand has been nearly negative throughout this year, reflecting continued weak market demand—a key factor behind Bitcoin's persistent price pressure. However, recent improvements in demand may help BTC maintain sideways consolidation at current price levels.
On June 3, Bitcoin's apparent demand dropped to its lowest point of the year at -275,000 BTC, but has since recovered to approximately -75,000 BTC. While this improvement is notable, genuine demand recovery requires this metric to consistently return to positive territory.
He explained that the apparent demand indicator is calculated by the difference between the newly issued BTC and the BTC supply that has not moved for over a year, and can be used to assess whether structural accumulation by long-term holders is sufficient to absorb the network's new supply. Currently, while long-term demand has recovered somewhat, it has not yet reached a level capable of driving the market into a new upward trend.