
Briefing
The Bitcoin Apparent Demand metric recorded its sharpest positive flip all year, immediately following a price correction. This core insight suggests that institutional and large-scale investors aggressively bought the dip, absorbing supply and establishing a robust structural support level. This thesis is proven by the metric’s dramatic 48-hour move, surging from a negative 79,085 BTC to a positive 108,582 BTC net demand.

Context
After a significant market correction, the central question for most investors is whether the dip is a temporary setback or the start of a deeper bearish trend. Everyone is wondering if big players are selling or if they are using the lower prices to buy more. This data provides a clear answer to the market’s underlying conviction.

Analysis
The Apparent Demand metric measures the true strength of net buying by comparing Bitcoin production (new supply) with the movement behavior of Long-Term Holders. When the metric is negative, it means selling pressure outweighs new demand; when positive, it means accumulation is dominant. The recent pattern shows a rapid and powerful shift ∞ the indicator had been negative for a month, but within 48 hours, it flipped to a strong positive value. This sudden change is known as a “demand pivot,” which historically signals the entry of large, structural capital (whales and institutions) that sets a strong foundation for a price rebound.

Parameters
- Key Metric – Apparent Demand (30-day sum) ∞ The cumulative net buying demand for Bitcoin over the last 30 days.
- Demand Pivot Magnitude ∞ A 187,667 BTC net change in demand over a 48-hour period.
- Pre-Pivot Reading ∞ -79,085 BTC net demand on November 6.
- Post-Pivot Reading ∞ +108,582 BTC net demand on November 8.

Outlook
This structural demand pivot suggests the market has established a strong, high-conviction price floor, making a deeper, sustained sell-off unlikely in the near term. The market is likely to enter a period of consolidation before a potential rebound. A confirming signal to watch for is a sustained, positive Coinbase Premium, which would indicate a return of aggressive US institutional buying momentum.

Verdict
Large-scale investor demand has absorbed the recent selling, confirming a structural market bottom is now in place.
