**[Analysis: Bitcoin Apparent Demand Shows Significant Improvement, But Structural Hoarding Has Yet to Fully Absorb New Supply]** BlockBeats News, August 15 – CryptoQuant analyst Darkfost stated in a post that Bitcoin's apparent demand has significantly improved but remains negative, currently at -32,000 BTC. When Bitcoin entered the new consolidation range in early June, the estimated demand was -272,000 BTC. This marks a positive change, but it is not yet strong enough. Similar patterns were observed in February and May of 2026, after which demand weakened again. This may also be related to a decline in average mining output, as hash rate has slightly decreased, indicating reduced production. Therefore, this is not yet a sufficiently strong positive momentum, but the trend is worth closely monitoring. Note: The calculation of apparent demand is the number of newly mined BTC minus the supply that has remained untouched for over a year. In other words, this metric is used to assess whether structural hoarding is sufficient to absorb the newly generated supply on the network. [Original Link]