Bitcoin apparent demand hits 4-month high, signaling trend reversal

An analysis suggests that Bitcoin's apparent demand has reached a four-month high, potentially signaling a market trend reversal. The metric compares the supply of newly mined BTC with coins that have remained inactive for over a year. A reading above zero indicates positive demand, while a figure below zero suggests that active buying is decreasing and demand has turned negative. According to data from crypto investment firm Capriole Investments cited by CoinDesk, the apparent demand metric surged to 5,251 BTC on Nov. 11, its highest level since July 31. After turning negative on Oct. 8 and bottoming out on Oct. 21, the metric shifted to an upward trend in November. The analysis also noted that spot trading volume has been recovering concurrently.