How Bitcoin's supply and demand are making a decisive turn after 90 days of stagnation

After nearly three months of completely unbalanced supply and demand dynamics in Bitcoin, the latest data paints a radically different picture. Demand is finally returning to the market, and this could be much more significant than it appears at first glance.

The supply and demand imbalance that froze the market

Over the past 90 days, Bitcoin supply from miners far exceeded any buying pressure. Miners, pressured by operational costs and market conditions, constantly sold their new coins, while large investors kept their wallets closed. Simply put: more people were selling than accumulating. This supply surplus over demand is precisely what causes periods of stagnation where the price gets stuck without a clear direction, testing the patience of any market participant.

The turning point: Demand absorbs supply

But here’s the interesting part. The “apparent demand” indicators — the metric that measures whether the market is holding more coins than are being produced — have just broken their negative trend and turned positive. In market terms: for the first time in months, Bitcoin demand is growing enough to absorb every coin coming out of the mines. This is not just a short-term rebound; it’s a structural change in supply and demand dynamics that historically precedes stronger recovery phases.

What does this change in supply and demand dynamics mean?

When demand finally surpasses supply, several things happen. First, systematic selling pressure disappears. Miners cease to be the dominant players. Second, the large players who have been absent start to re-enter positions, stabilizing the price floor. And third, the market shifts from “forced distribution” to “net accumulation,” a scenario where the environment is significantly more favorable for price appreciation.

With Bitcoin currently trading around $65,200 USD (with a -3.29% change in 24 hours), this turning point in supply and demand dynamics could mark the beginning of a new narrative. It’s not a guarantee of immediate gains, but it is the first consistent technical signal in months indicating that the market is no longer contracting but expanding.

The key question now

The main question is whether this change in the supply and demand relationship is sustainable or just a temporary breather. The rest of the market will need to support this momentum with sufficient liquidity for the trend to solidify. For now, what we are witnessing is the end of a phase of structural weakness and the possible start of a new cycle where demand is finally in the driver’s seat. Are we witnessing the last window to accumulate at these prices before supply and demand dynamics shift definitively toward scarcity?