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Bitcoin ‘Apparent Demand’ Makes Sharp Rebound – Will BTC Breakout Soon?

As Bitcoin (BTC) edges closer to the psychologically significant $100,000 milestone, several technical and on-chain indicators suggest that a major breakout could be on the horizon. One such metric – Bitcoin’s Apparent Demand – has shown a strong rebound, signalling renewed interest and sustained accumulation in the market. Bitcoin Sees Sharp Rebound In Apparent Demand According to a recent CryptoQuant Quicktake post, contributor IT Tech pointed to a significant rise in BTC’s Apparent Demand. Most notably, this key indicator has returned to positive territory after spending several consecutive weeks in the red. Related Reading: Bitcoin Enters New Phase: Analyst Predicts Positive Movement In 2025 For the uninitiated, Bitcoin’s Apparent Demand (30-day sum) measures the cumulative net demand for BTC over the past 30 days by tracking wallet accumulation and exchange outflows. A sharp increase in this metric suggests strong, sustained buying pressure, which can indicate bullish sentiment and potential for a price rally. The following chart illustrates this rebound in BTC’s Apparent Demand, which essentially reflects net changes in one-year inactive supply adjusted by daily block rewards – a metric designed to better represent organic demand growth. Previously, this metric had fallen deeply into negative territory – dipping below -200,000 (highlighted in red) – suggesting waning demand. However, its recent reversal into positive territory signals that long-dormant capital is flowing back into the market. As noted in the post: The demand pivot is closely aligned with the recent price rebound above $87K, implying this recovery is underpinned by real on-chain behavior rather than purely speculative flows. This marks the first positive Apparent Demand reading since February and aligns with rising inflows into spot Bitcoin exchange-traded funds (ETFs), as well as growing accumulation by long-term holders. Data from SoSoValue shows that US-based spot BTC ETFs have recorded five consecutive days of net positive inflows, totalling more than $2.5 billion. The cumulative net inflow into spot BTC ETFs now stands at an impressive $38.05 billion. Is A BTC Rally In Sight? IT Tech noted that past reversals in Apparent Demand have historically preceded either significant rallies or periods of strong price support. If the current trend continues, BTC may have the momentum needed to challenge the $90,000 level in the near term. Related Reading: Bitcoin Surpasses Realized Price Of Recent Buyers — Rally Incoming Or Double Top? However, analysts caution that Bitcoin must hold its current support around $91,500 to maintain upward momentum. This level is particularly important because it is close to the realized price of short-term BTC holders, according to CryptoQuant contributor Crazzyblockk. Further adding to this outlook, prominent crypto analyst Rekt Capital emphasized that Bitcoin needs to secure a weekly close above $93,500 and reclaim it as support in order to establish a clear path to $100,000. At press time, BTC trades at $94,492, up 2% in the last 24 hours. Featured image from Unsplash, charts from CryptoQuant and Tradingview.com CoinTurk News

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Ethereum’s Market Dominance Declines as Investors Reassess the Asset Amid Price Surge

Ethereum (ETH), the cryptocurrency with the second-greatest market valuation, has seen a substantial change recently in how it stands within the larger crypto market. Once a main force in driving the market’s narrative, Ethereum’s dominance has slipped to just 7.4%. That’s a far cry from where it was in 2021. Ethereum’s declining dominance clearly reflects what’s happening in the larger crypto market. Investors increasingly look to other assets for narratives—e.g., Solana (SOL)—or they’re re-embracing old solutions with new spins, viz. Bitcoin (BTC). Why is this decline in dominance happening? Ethereum’s Declining Market Position In 2021, Ethereum had a robust trading ratio compared to Bitcoin, with 1 ETH equaling 0.08 BTC. This trading ratio was a sign of Ethereum’s growth and its relevance in decentralized finance (DeFi) and the space of decentralized smart contracts. By 2023, however, the trading ratio had decreased again, this time in favor of Solana (SOL). In 2023, the ratio of 1 ETH to SOL was 111, indicating that not only is Solana growing in development, but it is also growing in the trading space and is now far more popular than Ethereum. Ethereum dominance nears 2020 levels #ETH market dominance drops to just 7.4%. Back in 2021, 1 $ETH = 0.08 $BTC In 2023, 1 $ETH = 111 $SOL Today, 1 $ETH = 0.018 $BTC and 11.5 $SOL 4 times less #BTC and 10 times less #SOL . pic.twitter.com/hyUMyaoJT2 — CryptoRank.io (@CryptoRank_io) April 25, 2025 The current trading ratio of HY (ETH) to BTC is a stunning decrease in ratio from the 2021 highs, dropping from 0.08 BTC worth per ETH to just 0.018 BTC worth per ETH. On the flip side, ratios of Altcoins to Ethereum are also dropping. In 2023, the trading ratio of SOL to ETH is 11.5. What’s obvious from this situation is that either one or a combination of factors is causing Ethereum to drop substantially TO both BTC and SOL. Whale Activity and Shifting Market Sentiment As Ethereum loses its former glory, the latest developments in the market can, to no small degree, be attributed to our old pals, the whales. They’ve shifted an eye-popping 305,000 ETH to exchanges in the past week alone, clearly looking to profit from the recent upswing in prices. And let’s not overlook the even larger sum of 63,000 ETH that they funneled out in just the last two days. This is all making going long look better and better for the folks who can’t make up their minds about parting with their Ethereum. Everyone known to be a major player in the Ethereum space tends to be a decent enough bellwether when it comes to signaling market sentiment. When these types of holders move around a significant amount of ETH, that often suggests they’re looking to take profits, hedge against volatility, or signal a potential reversals in momentum. 305,000 #Ethereum $ETH have been moved to exchanges over the past week! pic.twitter.com/uLvMZiutPd — Ali (@ali_charts) April 24, 2025 Ethereum ETFs See Modest Institutional Inflows Despite losing some of its market strength and witnessing large sell-offs by some of its biggest holders, Ethereum has managed to maintain a bit of institutional interest. The most recent sign of that interest—and one of the more exciting signs for Ethereum bulls—came on April 24, when spot Ethereum exchange-traded funds (ETFs) recorded a net inflow of $63.49 million. In theory, that’s an increase of investment confidence in Ethereum, especially from institutional investors, that might have usurped the kind of insatiable demand that characterized the Ethereum bull run of 2020 and 2021. On April 24, spot Bitcoin ETFs recorded a total net inflow of $442 million, marking five consecutive days of net inflows. Spot Ethereum ETFs saw a total net inflow of $63.49 million, with Grayscale’s Ethereum Trust ETF (ETHE) being the only one to register a net outflow.… — Wu Blockchain (@WuBlockchain) April 25, 2025 However, if you dig a little deeper, you’ll find that these net inflows into spot Ethereum funds (available to institutional investors) are seemingly not being funneled through Grayscale’s Ethereum Trust, the direct-access fund that has outperformed the spot market the most since Grayscale’s inception. Conclusion: Ethereum Faces Increasing Competition in the Market Ethereum faces truly serious challenges to its dominance in the market and to its position in the crypto ecosystem. The decrease in ETH’s market value relative to that of Bitcoin and Solana signals that investors are giving up on the so-called “Ethereum 2.0 narrative” and are, instead, looking for something else. And let’s be candid; at this stage, any other narrative would have a better chance of getting them to reach for their wallets. Meanwhile, when some of the most connected pro-crypto individuals are reportedly part of a scheme to make it look like a lot of ETH (in fact, billions of dollars worth) has just been sitting around untapped even though it’s really been sitting around and getting very little in the way of damn good price action, that’s Ethereum making itself a key player in the crypto space. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news ! CoinTurk News