Analysis: Bitcoin apparent demand has improved significantly, but structural accumulation still hasn’t fully absorbed new supply
On August 15, CryptoQuant analyst Darkfost said in a post that Bitcoin’s apparent demand has clearly improved but is still negative, currently at -32,000 BTC. When Bitcoin entered the latest new consolidation range from early June, demand estimates were -272,000 BTC. This is a positive change, but it isn’t strong enough yet. A similar pattern was also seen in February and May 2026, after which demand weakened again. This may also be related to a decline in average mined volume, since computing power has fallen, meaning production has decreased. Therefore, this is not yet strong enough positive momentum, but this trend is worth closely monitoring.
On August 15, CryptoQuant analyst Darkfost said in a post that Bitcoin’s apparent demand has clearly improved but is still negative, currently at -32,000 BTC. When Bitcoin entered the latest new consolidation range from early June, demand estimates were -272,000 BTC. This is a positive change, but it isn’t strong enough yet. A similar pattern was also seen in February and May 2026, after which demand weakened again. This may also be related to a decline in average mined volume, since computing power has fallen, meaning production has decreased. Therefore, this is not yet strong enough positive momentum, but this trend is worth closely monitoring.