On-chain analyst DarkPost reported that BTC's apparent demand has fallen to its lowest level this year. He emphasized, "Currently, BTC's apparent demand is approaching approximately -147,000 BTC, which is the first time market sentiment has been this bearish since December last year. Apparent demand is calculated as the difference between new BTC supply and long-term holdings that have been dormant for over a year. This allows us to estimate how much buying pressure the market is absorbing. This trend is a sign that BTC demand is gradually contracting. In particular, it is difficult to maintain a continuous upward trend with only futures market momentum without a recovery in spot demand. The futures market can support price increases in the short term, but a long-term bull market requires accompanying spot buying pressure."
