{"id":1211,"date":"2024-10-16T11:02:41","date_gmt":"2024-10-16T11:02:41","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=1211"},"modified":"2024-10-16T11:02:41","modified_gmt":"2024-10-16T11:02:41","slug":"bitcoin-apparent-demand-has-turned-green-again-what-it-means","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=1211","title":{"rendered":"Bitcoin \u2018Apparent Demand\u2019 Has Turned Green Again: What It Means"},"content":{"rendered":"
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On-chain data shows the Bitcoin \u2018Apparent Demand\u2019 indicator has flipped back to positive. Here\u2019s what this could mean for the asset\u2019s price.<\/p>\n

Bitcoin Apparent Demand Has Surged Back Into Positive Territory<\/h2>\n

In a new post<\/a> on X, Ki Young Ju, the founder and CEO of the on-chain analytics firm CryptoQuant, discussed the latest trend in the Apparent Demand<\/a> indicator for Bitcoin.<\/p>\n

\u201cApparent demand is the difference between production and changes in inventory,\u201d notes Young Ju. \u201cFor Bitcoin, production refers to mining issuance, while inventory refers to inactive supply for over a year.\u201d<\/p>\n

The mining issuance<\/a> here measures the total amount of BTC that the miners produce by adding blocks to the network and receiving rewards. At the same time, the one-year inactive supply comprises the tokens that haven\u2019t been transferred on the blockchain for more than one year.<\/p>\n

Below is the chart for the Apparent Demand for Bitcoin shared by the analyst.<\/p>\n

\"Bitcoin<\/p>\n

As is visible in the graph, the Bitcoin Apparent Demand had risen to highly positive levels during the rally to the new all-time high (ATH) in the year\u2019s first quarter.<\/p>\n

A positive value suggests the decrease in the BTC inventory is greater than its production. \u201cIf the decrease in inventory exceeds production, demand is increasing, and vice versa,\u201d explains the CryptoQuant CEO.<\/p>\n

However, the high demand for the cryptocurrency couldn\u2019t be maintained as the metric had slumped to neutral values soon after the asset\u2019s price had fallen into its consolidation phase.<\/p>\n

However, this trend of sideways movement around nearly neutral levels appears to have finally been broken recently, as the metric has witnessed a positive spike.<\/p>\n

So far, the Apparent Demand hasn\u2019t reached levels anywhere near as high as back during the March ATH, but its current value is still quite notable, indicating that demand has returned for the coin.<\/p>\n

Another metric that signals that fresh demand is coming into Bitcoin is the Realized Cap<\/a> of the new investors, as CryptoQuant author Axel Adler Jr. pointed out in a new post<\/a> on X.<\/p>\n

\"Bitcoin<\/p>\n

The Realized Cap is an indicator that, in short, keeps track of the total amount of capital that the Bitcoin investors as a whole have invested into the cryptocurrency.<\/p>\n

In the chart, the data for the Realized Cap, specifically for the \u201cnew investors\u201d, is shown, which are the holders who purchased their coins within the past month. This metric can proxy for the new capital coming into the asset.<\/p>\n

\u201cDemand for coin purchases from new investors has resumed, with a 3% increase over the last 10 days. This is a positive signal for the market,\u201d notes the analyst.<\/p>\n

BTC Price<\/h2>\n

Bitcoin had neared the $68,000 level earlier in the day, but it appears to have seen a pullback, as it\u2019s now back at $66,100.<\/p>\n

\"Bitcoin<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

On-chain data shows the Bitcoin \u2018Apparent Demand\u2019 indicator has flipped back to positive. Here\u2019s what this could mean for the asset\u2019s price. Bitcoin Apparent Demand Has Surged Back Into Positive Territory In a new post on X, Ki Young Ju, the founder and CEO of the on-chain analytics firm CryptoQuant, discussed the latest trend in […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-1211","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/1211","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1211"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/1211\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1211"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1211"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1211"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}