Analyst: Bitcoin Apparent Demand has been nearly negative throughout the year, but has recently improved

Odaily News, CryptoQuant analyst Darkfost stated that Bitcoin Apparent Demand has remained in negative territory almost throughout this year, reflecting the still weak market demand and serving as a key reason for Bitcoin's ongoing price pressure.

Data shows that on June 3, Bitcoin Apparent Demand 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 noteworthy, a true demand recovery still requires this indicator to consistently return to positive territory.

He explained that the Apparent Demand indicator is calculated by the difference between "new BTC issuance" and "the supply of BTC that has not moved for over a year," and can be used to measure whether the structural accumulation by long-term holders is sufficient to absorb the new network supply. Currently, although long-term demand has recovered somewhat, it has not yet reached a level sufficient to drive the market into a new upward trend.