[Analyst: Bitcoin 'Apparent Demand' Remains Negative, Weak Spot Demand May Limit Upside Potential] Crypto analyst Darkfost stated on the X platform that he is currently closely monitoring Bitcoin demand. Data shows that Bitcoin's 'Apparent Demand' is currently at -112,500 BTC, indicating that spot market demand remains insufficient. Darkfost pointed out that although the demand indicator is still negative, it has improved compared to -207,000 BTC on September 20. During this period, Bitcoin ETFs have cumulatively absorbed approximately 28,000 BTC, driving a recovery in demand conditions. In the current context, Bitcoin's price may experience a slight pullback to seek actual buying demand. Reportedly, the Apparent Demand indicator is calculated by comparing Bitcoin's newly issued supply with the change in supply that has remained unmoved for over a year, and is used to assess whether structural buying in the market is sufficient to absorb the network's new supply.