Bitcoin's apparent demand hit a new high since this year, and it has already entered a phase where supply is in short supply

Comparing news, crypto analyst Darkfost wrote that the apparent demand for Bitcoin reached a record 25,000 units in 2026, indicating that actual spot purchases exceeded the mining of new coins, and that market buyers were stronger than supply.

Apparent demand is a daily block subsidy minus daily changes in unused supply for more than a year to measure whether structural accumulation can effectively absorb new supply.

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