Cryptanalysis expert Darkfost: The apparent demand for Bitcoin has reached a new high this year and has entered a stage of supply shortage

Cryptocurrency analyst Darkfost stated that the apparent demand for Bitcoin in 2026 reached a record of 25,000 coins, indicating that the actual spot buying volume exceeds the newly mined coins, with market buying power stronger than supply.

Apparent demand is calculated by subtracting the daily change in supply that has not been used for over a year from the daily block subsidy, used to measure whether structural accumulation can effectively absorb new supply.