BlockBeats News, May 25th, according to analyst Darkfost, the current Bitcoin Apparent Demand has dropped to the lowest level since 2026, with a 30-day total close to -147,000 BTC, the last time a similar extreme value was seen was in December 2025.

Darkfost pointed out that this data indicates that Bitcoin spot demand continues to gradually shrink, and a rebound driven solely by the futures market is hardly sustainable.

Apparent Demand is calculated by subtracting newly issued BTC from the supply untouched for over a year.