On-chain analyst Darkpost diagnosed that Bitcoin spot demand remains sluggish. The current BTC Apparent Demand is currently at -112,500 BTC, which is a negative state. Apparent Demand is an indicator that shows whether the market's long-term holding and accumulation movements are sufficiently absorbing the newly issued BTC supply on the network. However, it has improved by approximately 94,500 BTC compared to -207,000 BTC on September 20. He predicted, "As the demand indicator is still negative, it is difficult to say that spot buying pressure is strong enough. Bitcoin prices may undergo further adjustments to find a range where actual buying demand flows in."
