Bitcoin News Today: Bitcoin Demand Stays Strong Amid Price Dip 160,000 BTC Accumulated in 30 Days

Bitcoin Demand Holds Strong Despite Price Drop: Accumulation Trend Remains Intact

Bitcoin’s price recently dipped to a low of $111,971 from a consolidation range it had held for over two weeks, pushing it back to around $112,000. This decline raised concerns, particularly among short-term holders (STHs), who now face the dilemma of either cutting losses or holding onto underwater positions. Despite the volatility, top analyst Darkfost has noted that underlying demand for Bitcoin remains robust, suggesting that the market is continuing to absorb supply effectively [1].

One key metric cited by Darkfost is the Apparent Demand indicator, which measures new Bitcoin issuance against over one-year inactive supply. This ratio has remained positive over the past 30 days, indicating that demand has outpaced new supply. During this period, approximately 160,000 BTC were accumulated, highlighting sustained buying activity even amid the correction [1].

Long-term accumulation trends also remain intact, with investors continuing to add to their positions. This behavior reflects confidence in Bitcoin’s future, even as short-term sentiment has weakened due to the drawdown. The broader market structure appears to remain healthy, with demand-side indicators offering a cautiously optimistic outlook for the near term [1].

Darkfost further emphasized the strength of demand from Accumulator Addresses—wallets that have only acquired Bitcoin without any selling history. Over the past month, these addresses have accumulated an additional 50,000 BTC on average, demonstrating a consistent and determined buying pattern [1]. This trend underscores the confidence of long-term holders who are capitalizing on market dips to strengthen their holdings [1].

Institutional demand is also evident through Bitcoin’s movement on OTC desks. The supply of BTC on these desks has dropped significantly since September 2021, from 550,000 to just 145,000 BTC today. This decline indicates that large-scale buyers are actively removing Bitcoin from OTC circulation, reducing future supply for institutional entrants and signaling strong strategic investment activity [1].

From a technical perspective, Bitcoin is currently trading at $114,476, having stabilized after its recent drop. The 50-day SMA stands at $100,228, offering a strong technical base, while the 100-day SMA at $95,433 remains a key medium-term support level. The 200-day SMA at $77,282 continues to confirm the long-term bullish trend [1].

BTC remains below the critical $115,724 resistance level, which marks the lower boundary of the previous consolidation range. Maintaining higher lows above $110,000 is essential for preserving the bullish outlook. A break above the $122,077 resistance would signal a strong continuation toward new highs. Volume activity has been declining during the retracement, a positive sign indicating that selling pressure is not overwhelming [1].

Should Bitcoin reclaim the $115,724 level in the coming sessions, it could increase the likelihood of another attempt at a breakout toward $122K. For now, the market is closely watching for signs of a reversal or a deeper correction, with demand-side indicators suggesting resilience and continued confidence in the asset’s long-term potential [1].

Source: [1] Bitcoin Demand Holds Strong Despite Price Drop: Accumulation Trend Remains Intact (https://www.newsbtc.com/bitcoin-news/bitcoin-demand-holds-strong-despite-price-drop-accumulation-trend-remains-intact/)