$BTC

102,533.41

-1.77%

Bitcoin Demand Surges as Price Holds Strong—Is a New Rally Brewing?

The latest chart tracking Bitcoin’s price alongside its 30-day apparent demand shows a clear resurgence in positive market sentiment. Green spikes in the histogram reveal strong increases in demand, aligning with periods of upward price momentum. Notably, 2024 has seen consistent positive demand flows, with the current trend suggesting bullish pressure remains intact.

While Bitcoin’s price has been consolidating near the $60K–$70K range, the underlying demand metrics tell a more dynamic story. The chart shows that each major rally over the past five years was preceded or accompanied by a spike in positive apparent demand—just like what we’re seeing now. On the flip side, extended periods of negative demand (shown in red) often marked local tops or correction phases.

If current patterns hold, this combination of stable prices and rising demand could be laying the groundwork for the next leg up—potentially validating predictions from analysts like PlanB, who see Bitcoin heading toward the $400K mark in the coming months.