Analysis: Bitcoin Apparent Demand Turns Positive for First Time in Nine Months
Summary
- An analysis said Bitcoin's apparent demand indicator turned positive for the first time in nine months.
- It said the Bitcoin outflow trend that began in November has ended and that real capital inflows have emerged.
- The contributor said the recovery in Bitcoin's apparent demand points to short-term upside potential and positive signals for the market.
Forecast Trend Report by Period
Bitcoin's apparent demand indicator, a measure of underlying demand for the token, has turned positive, suggesting the outflow trend that began in November has ended and the odds of a short-term gain have increased.
CryptoQuant contributor CW8900 wrote in a report published Aug. 18 that Bitcoin's apparent demand indicator has recovered and moved into positive territory for the first time in nine months.
Apparent demand tracks changes in effective Bitcoin demand flowing into the market. A positive reading means fresh demand and capital inflows are emerging.
Bitcoin demand has recently begun to recover, and apparent demand has finally turned positive, the contributor wrote. That ends a prolonged negative stretch and indicates renewed capital is entering the market.
The shift could signal a short-term uptrend, with positive signs beginning to appear in the market.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.