Bitcoin Demand Surges to 100,000 BTC Despite January Slump

Bitcoin demand has rebounded to over 100,000 BTC despite a significant decline in January, according to data from CryptoQuant. The apparent demand for Bitcoin has been recovering since mid-February, following a drop from around 207,964 BTC on January 1 to 33,587 BTC by January 31.

Historical records show that Bitcoin demand has peaked at various times in the past, with the highest levels reached on August 23, 2017 (810,339 BTC), January 10, 2021 (573,885 BTC), and April 1, 2024 (464,490 BTC), when the last Bitcoin halving occurred. While the current demand is below these peak levels, it has been increasing on a month-to-month basis relative to the end of 2024.

Bitcoin prices reached around $109,000 in late January before stabilizing in the mid-$90,000 range through February. Although the January 2025 figure marks the highest intra-year reading so far, it remains below previous bull-cycle levels. Analysts suggest that while demand appears robust and increasing, it does not approach the multi-hundred-thousand levels observed in past cycles.