Bitcoin Apparent Demand Improves to -32,000 BTC from -272,000 BTC Low

BTC apparent demand rises to -32,000 BTC, up from -272,000 BTC in June. Structural hoarding remains insufficient to absorb new supply, despite positive trend.

Woofun AI data shows that Bitcoin's apparent demand has improved significantly, reaching -32,000 BTC, compared to an estimated -272,000 BTC when the current consolidation phase began in early June. While this shift indicates a positive development, the metric remains negative, suggesting that existing structural hoarding levels are not yet adequate to absorb newly mined supply. Historical patterns from February and May 2026 showed similar temporary improvements followed by demand weakening, potentially linked to declines in average mining volume and hash rate reductions. Apparent demand is defined as newly mined BTC minus supply unused for over a year, serving as a key indicator for assessing whether long-term holders can offset network issuance.