Bitcoin Apparent Demand at -112,500 BTC, Weak Spot Demand Limits Upside Potential

Bitcoin's apparent demand currently stands at -112,500 BTC, indicating insufficient demand in the spot market. Analyst Darkfost points out that although the demand indicator remains negative, it has improved compared to -207,000 BTC on September 20. During this period, Bitcoin ETFs have accumulated approximately 28,000 BTC, boosting the demand situation. Against this backdrop, Bitcoin prices may experience a slight pullback to seek actual buying demand. The apparent demand indicator is calculated by comparing the newly issued Bitcoin supply with the change in supply that has not moved for over a year, used to measure whether structural buying in the market is sufficient to absorb the new supply from the network.

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