Bitcoin is having a growing demand despite volatility

The price of Bitcoin (BTC), despite coming from a difficult week, shows strength and resists above the $ 114,000 line.

Although this fall can scare more than one investor, the data ON-CHAIN They show that Bitcoin’s demand remains firm and, for that reason, it is not yet time to be worried.

In this regard, Cryptoquant analysts, an analysis firm ON-CHAINthey suggest that “to assess whether the situation could get worse significantly, it is essential to analyze the current demand.”

The first of the indicators reflects that, despite this fall, Long -term holders maintain their positions and are buying or keeping more BTC than is broadcast.

To sustain this argument, analysts share a graph in which the apparent demand in BTC is observed in the last 30 days. This indicator compares two key components: the new daily emission of BTC generated by mining and the variation in the amount of bitcoin that remain inactive for more than a year, that is, they do not move on the network.

If the accumulation of inactive BTC exceeds the newly issued amount, the excess reflects a positive net demand; On the contrary, if the holders begin to mobilize and sell more coins than they are created, the apparent demand becomes negative.

In the previous graph, the blue line shows the apparent accumulated demand in the last 30 days, expressed in Bitcoin. The black line, meanwhile, represents the price of BTC, while green shaded areas represent periods with positive apparent demand, when more BTC accumulates than they are issued, indicating buying pressure.

On the contrary, the red areas indicate moments of apparent negative demand, in which the supply released to the market exceeds the new emission, reflecting greater selling pressure.

Currently, the net accumulation is approximately 160,000 BTC, which suggests that demand remains positive. It is an upward sign for the price of the currency created by Satoshi Nakamoto.

On the other hand, analysts emphasize that the metric called “demand for accumulatory addresses”, which tracks The addresses that BTC have acquired without selling anythingit reflects that in the last 30 days their holdings have increased by 50,000 BTC. “This shows a strong and sustained purchase behavior,” they explain.

As seen in the following graph, the accumulation has increased in a sustained manner in the last month (purple areas), reaching levels greater than 240,000 BTC, a maximum that reflects the interest of long -term investors to maintain their positions, despite the volatility in the market.

Finally, it should be noted that There are less and less BTC available in the OTC market (“Over The Counter” or outside the counter, in Spanish). As Cryptonotics explained, this route allows institutional investors to negotiate in large volumes discreetly, without affecting prices in the best known exchanges.

“The BTC maintained by the OTC desks has decreased significantly: in September 2021, there were around 550,000 BTC available, compared to only 145,000 BTC today,” analysts detail.

For specialists, the most important thing is that “the general trend remains bullish, driven by the conviction of long -term investors, while short -term those can cause temporary corrective pressure.”

Said in simpler terms, for the moment the panorama remains positive and There are no clear signs that BTC can suffer a strong price correction.