Bitcoin Demand Turns Bullish for First Time Since 2025 High

Bitcoin's demand has turned positive for the first time since its all-time high in October 2025, according to blockchain analytics platform CryptoQuant. This shift is significant because changes in demand can indicate whether Bitcoin is entering a stronger market phase.

The latest data from CryptoQuant shows that demand for Bitcoin has improved across both spot markets and perpetual futures markets. Spot markets involve direct buying and selling of Bitcoin, while perpetual futures allow traders to take leveraged positions without owning the underlying asset.

A recovery in spot demand is particularly important because it reflects direct demand for Bitcoin. When investors purchase BTC through spot markets, they are acquiring the underlying asset rather than simply taking a derivative position.

The return of positive demand after remaining weaker since October 2025's all-time high could indicate a potential shift in market conditions. However, analysts caution that a single indicator should not be treated as confirmation of a new bull market. A stronger confirmation would likely require multiple indicators to move in the same direction.