Bitcoin’s apparent demand has improved sharply from early June, but it remains below zero, according to CryptoQuant analyst Darkfost. In a post cited by BlockBeats on Aug. 15, Darkfost said the metric currently stands at -32,000 BTC, compared with an estimated -272,000 BTC when Bitcoin entered its latest consolidation range in early June. He described the change as positive, though not yet strong enough to signal firm upside momentum.
Darkfost added that similar patterns appeared in February and May 2026, only for demand to weaken again afterward. He also said the shift may be related to a drop in average mining output, as lower hash rate implies reduced production. By his definition, apparent demand is calculated as newly mined BTC minus supply that has remained unmoved for more than one year. The metric is used to assess whether structural accumulation is sufficient to absorb newly created network supply.
Bitcoin’s apparent demand has improved meaningfully, though it is still negative, CryptoQuant analyst Darkfost said in a post cited by BlockBeats on Aug. 15. The metric currently stands at -32,000 BTC.
Darkfost said estimated demand was -272,000 BTC when Bitcoin entered its current consolidation range in early June. That marks a clear improvement from the level seen at the start of the range, but he said the recovery is not strong enough yet.
He also pointed to similar patterns in February and May 2026, followed by another weakening in demand. According to Darkfost, the shift may also be tied to a decline in average mining output, since a lower hash rate implies lower production.
For now, he said, the data does not show sufficiently strong positive momentum, though the trend is worth watching closely.
Darkfost defined apparent demand as the amount of newly mined BTC minus supply that has not moved for more than one year. In other words, the indicator is used to evaluate whether structural accumulation is enough to absorb newly created supply on the network.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
