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Bitcoin Demand In Early Recovery, CryptoQuant Reveals Why
The post Bitcoin Demand In Early Recovery, CryptoQuant Reveals Why appeared on BitcoinEthereumNews.com. The CryptoQuant Head of Research has explained how the demand for Bitcoin could be in its early stages of recovery, as per on-chain data. Bitcoin Apparent Demand Metric Has Shown Early Signs Of Flipping In a new post on X, Julio Moreno, the Head of Research at the on-chain analytics firm CryptoQuant, discussed the growth in demand for Bitcoin. The indicator of interest here is the “Apparent Demand,” which takes the difference of two other metrics to measure the demand BTC is observing right now. The metrics in question are daily block subsidy and daily change in the one-year inactive supply. The first is a measure of the amount the miners get in block rewards daily. These rewards are the only possible way of minting more cryptocurrency, so the daily block subsidy reflects the fresh BTC entering into circulation daily. The second relevant metric keeps track of the daily net change in the 1-year inactive supply of the asset. A positive change in the metric suggests a net number of coins surpassed an age of one year on that day, while a negative one implies dormant supply has been moved. The Apparent Demand subtracts this change in the 1-year supply from the daily block subsidy to get an estimation of the demand that’s present for the cryptocurrency. Now, here is the chart shared by Moreno that shows the trend in the 30-day sum for the Bitcoin Apparent Demand since the start of the year: Looks like the value of the metric has just flipped positive in recent days | Source: @jjcmoreno on X As displayed in the above graph, the Bitcoin Apparent Demand had been negative earlier in the month, but the metric has just returned positive. More importantly, the indicator has also managed to break above its 30-day simple…
The post Bitcoin Demand In Early Recovery, CryptoQuant Reveals Why appeared on BitcoinEthereumNews.com.
The CryptoQuant Head of Research has explained how the demand for Bitcoin could be in its early stages of recovery, as per on-chain data. Bitcoin Apparent Demand Metric Has Shown Early Signs Of Flipping In a new post on X, Julio Moreno, the Head of Research at the on-chain analytics firm CryptoQuant, discussed the growth in demand for Bitcoin. The indicator of interest here is the “Apparent Demand,” which takes the difference of two other metrics to measure the demand BTC is observing right now. The metrics in question are daily block subsidy and daily change in the one-year inactive supply. The first is a measure of the amount the miners get in block rewards daily. These rewards are the only possible way of minting more cryptocurrency, so the daily block subsidy reflects the fresh BTC entering into circulation daily. The second relevant metric keeps track of the daily net change in the 1-year inactive supply of the asset. A positive change in the metric suggests a net number of coins surpassed an age of one year on that day, while a negative one implies dormant supply has been moved. The Apparent Demand subtracts this change in the 1-year supply from the daily block subsidy to get an estimation of the demand that’s present for the cryptocurrency. Now, here is the chart shared by Moreno that shows the trend in the 30-day sum for the Bitcoin Apparent Demand since the start of the year: Looks like the value of the metric has just flipped positive in recent days | Source: @jjcmoreno on X As displayed in the above graph, the Bitcoin Apparent Demand had been negative earlier in the month, but the metric has just returned positive. More importantly, the indicator has also managed to break above its 30-day simple…
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