Bitcoin ‘Apparent Demand’ Makes Sharp Rebound – Will BTC Breakout Soon?
Bitcoin (BTC) approaches the $100,000 milestone, with indicators suggesting a potential breakout. Bitcoin's Apparent Demand has rebounded, indicating renewed market interest and accumulation. This metric measures cumulative net demand over 30 days, reflecting wallet accumulation and exchange outflows. After weeks in negative territory, it has returned to positive, signaling strong buying pressure. Recent data shows US-based spot BTC ETFs have experienced five consecutive days of net positive inflows, totaling over $2.5 billion, with cumulative inflows reaching $38.05 billion. Analysts note that past reversals in Apparent Demand often precede significant price rallies. For upward momentum, Bitcoin must maintain support around $91,500 and secure a weekly close above $93,500 to pave the way toward $100,000. Currently, BTC trades at $94,492, up 2% in the last 24 hours.
