Bitcoin’s demand backdrop has weakened sharply, according to CryptoQuant 
analyst Darkfost, who said an on-chain gauge of apparent demand has fallen to 
its most bearish reading of the year. Darkfost, posting on X under the handle 
@Darkfost_Coc, shared a CryptoQuant chart showing Bitcoin Apparent Demand on a 
30-day sum basis falling deep into negative territory. The analyst said the 
metric is now approaching minus 147,000 BTC, marking its weakest level since 
the beginning of 2026. “Bitcoin’s Apparent Demand has just reached its most 
negative level since the beginning of the year,” Darkfost wrote. “With an 
estimate now approaching -147,000 BTC, we have to go back to December 2025 to 
find market sentiment this bearish.” Apparent Demand Turns Deeply Negative The 
chart tracks Bitcoin’s apparent demand alongside price, showing a transition 
from strongly positive readings through parts of mid-2025 to prolonged 
negative demand in late 2025 and again in 2026. The latest drop is notable 
because it comes after Bitcoin’s price recovered from its early-2026 lows, 
suggesting that the rebound has not been matched by a clear improvement in 
structural spot demand. Related Reading: Bitcoin LTH Supply Surge Does Not 
Reflect Real Demand — Here’s Why Darkfost described Apparent Demand as “the 
difference between new BTC issuance and the amount of supply that has remained 
inactive for more than one year.” In practical terms, the metric is intended 
to assess whether accumulation from longer-term holders is strong enough to 
absorb newly issued Bitcoin. “In other words, this metric helps estimate 
whether structural accumulation is strong enough to absorb the new supply 
created by the network,” the analyst wrote. That interpretation frames the 
current reading as more than a short-term sentiment gauge. If apparent demand 
is deeply negative, it suggests that the market is not showing enough 
underlying absorption to offset issuance and support a more stable bullish 
phase. Futures Momentum Faces A Spot Demand Problem Darkfost’s core argument 
is that Bitcoin’s rally structure may be vulnerable if derivatives activity is 
doing too much of the work. Futures markets can push price higher, accelerate 
liquidations and amplify directional moves, but they do not necessarily 
represent durable accumulation. “This development suggests that demand 
continues to gradually contract,” Darkfost said. “Without a meaningful 
recovery in spot demand, it becomes difficult to imagine Bitcoin sustaining a 
durable rally purely through the momentum driven by futures markets.” Related 
Reading: Glassnode Says Bitcoin Options Traders Are Still Positioned For 
Trouble The point is especially relevant in a market where price can move 
quickly on leverage, positioning and liquidity shifts. A futures-led move may 
still produce sharp upside, but Darkfost argued that sustained bullish phases 
generally require a firmer spot foundation. “Futures can support short term 
momentum and amplify price movements,” the analyst wrote, “but sustainable 
bullish phases generally require genuine spot demand, as derivatives alone do 
not allow the market to build a stable and solid foundation.” Bearish Signal, 
Long-Term Setup? The analyst did not frame the latest reading as purely 
negative. While the short-term implication is bearish, Darkfost noted that 
heavily pessimistic demand environments have historically been worth 
monitoring for long-term investors. “That said, even if this situation appears 
relatively bearish in the short term, these types of environments have 
historically also created interesting opportunities for long term investors 
capable of remaining patient,” the analyst wrote. At press time, BTC traded at 
$77,300. Featured image created with DALL.E, chart from TradingView.com

Bitcoin’s demand backdrop has weakened sharply, according to CryptoQuant analyst Darkfost, who said an on-chain gauge of apparent demand has fallen to its most bearish reading of the year. Darkfost, posting on X under the handle @Darkfost_Coc, shared a CryptoQuant chart showing Bitcoin Apparent Demand on a 30-day sum basis falling deep into negative territory. &#8230;

Bitcoin Rally Faces Fresh Test As Demand Metric Hits 2026 Low

International Holding Company recently executed a $30 million transaction 
using the new United Arab Emirates dirham-backed stablecoin. Major 
Institutional Transaction Executed The Abu Dhabi-based global investment 
company, International Holding Company (IHC), has executed a $30 million (AED 
110 million) transaction using a stablecoin backed by the United Arab Emirates 
(UAE) dirham, marking the first major […]

International Holding Company recently executed a $30 million transaction using the new United Arab Emirates dirham-backed stablecoin. Major Institutional Transaction Executed The Abu Dhabi-based global investment company, International Holding Company (IHC), has executed a $30 million (AED 110 million) transaction using a stablecoin backed by the United Arab Emirates (UAE) dirham, marking the first major &#8230;

IHC Executes $30M DDSC Stablecoin Trade as UAE Digital Payments Enter New Phase

XRP trades near $1.36 as Binance liquidity hits 2020 lows, while whale 
withdrawals keep focus on the $1.35-$1.40 zone for traders.

XRP trades near $1.36 as Binance liquidity hits 2020 lows, while whale withdrawals keep focus on the $1.35-$1.40 zone for traders.

Can XRP price hold $1.35 as Binance liquidity falls to 2020 lows?

Ethereum price has slipped into a bearish rounded top structure as 
institutional outflows, leveraged shorts, and weakening momentum pressure the 
token below $2,150. According to data from crypto.news, Ethereum (ETH) price 
was trading near $2,115 at press time after falling…

Ethereum price has slipped into a bearish rounded top structure as institutional outflows, leveraged shorts, and weakening momentum pressure the token below $2,150. According to data from crypto.news, Ethereum (ETH) price was trading near $2,115 at press time after falling…

Ethereum price forms bearish rounded top pattern, will it crash?

Someone told you about Pi Network. Maybe a friend, a relative, a coworker. 
They said you can mine cryptocurrency on your phone by tapping a button once a 
day. You looked it up and ended up more confused than when…

Someone told you about Pi Network. Maybe a friend, a relative, a coworker. They said you can mine cryptocurrency on your phone by tapping a button once a day. You looked it up and ended up more confused than when…

Pi Network for the curious: A beginner’s guide

You never see the most important part of any of your payments. When an app 
says your money moved, a number changes on your screen, and the transaction 
looks and feels finished. But underneath those interfaces lies a separate, 
invisible chain of bank reserves, settlement accounts, and Fed infrastructure 
that determines when your funds actually […]
The post The Fed may open direct settlement rails to crypto firms as banks 
warn of liquidity risk appeared first on CryptoSlate.

You never see the most important part of any of your payments. When an app says your money moved, a number changes on your screen, and the transaction looks and feels finished. But underneath those interfaces lies a separate, invisible chain of bank reserves, settlement accounts, and Fed infrastructure that determines when your funds actually &#8230;

Bitcoin Rally Faces Fresh Test As Demand Metric Hits 2026 Low

Comments