Bitcoin: Apparent Demand Growth

Apparent Demand Growth measures the net change in Bitcoin supply that has stayed inactive for more than a year, adjusted for newly issued coins — a direct read on whether the market is absorbing more BTC than it is releasing.

Positive values mean demand is outpacing new supply, a condition that has accompanied sustained rallies. Negative values mean supply is outpacing demand, and the market loses the footing it needs for new highs. Sharp reversals out of deeply negative territory have often preceded price recoveries.

The 30-day and 1-year windows are read together. A negative 30-day reading while the 1-year stays positive usually marks a correction inside a bull cycle; both turning negative at once has marked confirmed bear markets.

API — /v2/community/bitcoin-apparent-demand returns the 30-day and 1-year values. The positive/negative split and the 90-day average shown here are derived from those two fields.