Analyst: Bitcoin's apparent demand has been mostly negative throughout the year, but has recently shown improvement

According to Odaily Planet Daily, CryptoQuant analyst Darkfost stated that Bitcoin's Apparent Demand has remained in negative territory for most of this year, reflecting the continued weakness in current market demand, which is also a key reason for Bitcoin's ongoing price pressure.

Data shows that on June 3, Bitcoin's apparent demand briefly dropped to a yearly 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 the indicator to consistently return to positive territory.

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