Bitcoin Demand Rebounds Sharply After Two Months, but Bullish Case Remains Unclear
Summary
- CryptoQuant’s Darkfost said Bitcoin’s apparent demand had recovered to negative 32,000, a sharp improvement from negative 272,000 in early June.
- It still remains negative, meaning demand for Bitcoin has increased but is not yet strong enough to fully absorb market supply.
- Darkfost said similar patterns in February and May were followed by a decline in demand, adding that the current move alone is not enough to qualify as a strong positive signal.
Forecast Trend Report by Period
Bitcoin demand is recovering quickly, according to CryptoQuant analysis, though it remains insufficient to absorb all new supply.
On Aug. 15, CryptoQuant contributor Darkfost wrote that Bitcoin’s apparent demand had recovered to negative 32,000 from negative 272,000 in early June.
Apparent demand measures how much the market’s buying power can absorb newly supplied Bitcoin.
The metric has improved sharply from two months ago, but it is still negative. That suggests buying demand is rising, though not enough to fully absorb supply entering the market.
Darkfost wrote that similar patterns emerged in February and May, only for demand to weaken again afterward. That makes it too early to treat the current move as a strong positive signal.
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