Bitcoin’s Apparent Demand Is Growing Again – Will It Last?

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It appears that the highly volatile world of cryptocurrency is once again showing signs of life, as the demand for Bitcoin has experienced a most unexpected revival, according to on-chain data. It seems the “Apparent Demand” metric has just started to rise, marking the first such instance since the faraway month of November. Oh, what a time it has been!

Bitcoin’s Apparent Demand Finally Turns Green – A Miracle or Mere Coincidence?

In a recent post on X (formerly known as Twitter, because who wouldn’t want to add an extra letter to make things confusing?), the head of research at CryptoQuant, Julio Moreno, discussed the latest trend in Bitcoin’s Apparent Demand. This metric, as cryptic as it sounds, attempts to estimate the current spot demand for Bitcoin based on a comparison of two obscure metrics: mining issuance and the change in the 1-year inactive supply. A real page-turner, isn’t it?

The mining issuance is the amount of Bitcoin miners are “minting” on the blockchain each day. One could call it the daily bread of Bitcoin production. On the other hand, the 1-year inactive supply consists of those coins that have been gathering dust for over a year-probably waiting for the right moment to make a dramatic reappearance. Together, these provide a glimpse into Bitcoin’s “inventory” status. How thrilling!

When the Apparent Demand metric is positive, it means the decrease in inventory surpasses production. A sign of growing demand, perhaps? On the other hand, when it’s negative, well, it suggests that coins are being tucked away into cold storage, as if they’re waiting for a more opportune time to shine. How mysterious!

Now, let’s have a look at the chart shared by Moreno, which shows the trend in the 30-day sum of the Bitcoin Apparent Demand over the past few months. Drumroll, please:

As you can see from the chart above, the Bitcoin Apparent Demand plummeted into the red zone during December, leaving us all wondering if the cryptocurrency had lost its charm. The situation remained stagnant during the first half of January, but much like a plot twist in a good novel, things started to reverse in the latter half of the month. How exciting!

As we moved into February, the Apparent Demand lingered in the negative zone, but lo and behold, it has recently turned positive once again! “Bitcoin spot demand is growing for the first time since late November,” Moreno announced, as if this were the most thrilling discovery since sliced bread. The metric’s green level is still modest, so we’ll have to wait and see if it will continue its upward trajectory. Stay tuned, folks!

In other news, the Coinbase Premium Index has also turned green, which, according to CryptoQuant founder Ki Young Ju, is a notable development. The suspense is palpable!

The Coinbase Premium Index, for those not in the know, tracks the percentage difference between Bitcoin’s price on Coinbase (in USD) and Binance (in USDT). Essentially, it shows how the US-based Coinbase users differ from the more international Binance crowd in their purchasing behaviors. How culturally fascinating!

From the chart, we can observe that this index has surged into the positive territory along with the recent price rise. This, dear reader, might just be a sign that American institutions are the ones driving this latest Bitcoin rally. Well, isn’t that a twist in the tale?

BTC Price

As of this writing, Bitcoin is cruising around $68,000, having gained 4% in the last 24 hours. Perhaps it’s time to reconsider those Bitcoin dreams you’ve put on hold?

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2026-02-27 06:11