Bitcoin Apparent Demand Hits Yearly High, Enters Supply Shortage Phase

Apparent demand is a derived, analyst-defined gauge rather than a directly observable flow, so the signal matters less as a number than as a directional shift: it suggests absorption is outpacing available supply. The practical read is for anyone tracking whether recent price action reflects genuine accumulation or thin-liquidity noise. Whether this demand measure holds above its yearly high, and whether it shows up in spot flows rather than staying a single-analyst metric, is the open question.