Bitcoin’s spot demand is set to turn positive for the first time since February 2026, according to CryptoQuant’s apparent demand metric, which has risen to approximately +25,000 BTC after six months in negative territory. The indicator had plummeted to roughly -147,000 BTC in May when Bitcoin was trading around $60,000, before recovering to the $64,000-$65,000 range by August. Cumulative net inflows into US Bitcoin ETFs have surpassed $52 billion by mid-August 2026, with a single-day inflow spike of $297.5 million. This reversal suggests a shift in market dynamics, with institutional buying through ETFs providing structural price support.
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