Bitcoin ($BTC) is showing signs of a significant market shift as its demand metric has turned positive for the first time since December 2025, according to data from CryptoQuant. After nearly three months of persistent weakness and sideways price action, the metric now registers a positive reading of approximately +1,200 BTC. This marks a stark reversal from its December low of around -154,000 BTC.
The "apparent demand" metric is a key indicator that reveals whether long-term holders are absorbing new Bitcoin supply. When demand is deeply negative, it indicates that selling pressure is overpowering buying interest, often leading to sluggish price action. The shift into positive territory suggests that selling activity is easing and that structural accumulation may be returning to the market.
Analysts note that positive readings in this metric have historically preceded solid price action, as they signal a resurgence in market confidence. However, a single positive print does not guarantee a sustained trend reversal. The market remains in a range-bound state, actively clearing liquidity both above and below the current price. This creates a choppy environment where expansion is met with selling and dips are bought, trapping BTC in a tug-of-war.
The sustenance of this positive demand trend could serve as one of the earliest indicators that the market is transitioning from a distribution phase back to an accumulation phase. If Bitcoin finds acceptance above the current range after nearby liquidity is purged, the probability shifts toward a bullish expansion. Conversely, failure to gain acceptance could leave the market vulnerable to further downside.
