An expert known as Darkfost has noted an improvement in the "apparent demand" for the leading cryptocurrency. The situation has changed over the past 30 days, although the metric remains in negative territory.
📊 I continue to monitor various aspects of demand following the sharp decline of recent months.
— Darkfost (@Darkfost_Coc) January 18, 2026
Apparent demand has clearly improved over the past 30 days even if it remains negative, at around −31,000 BTC.
However, this represents a significant improvement compared to the… pic.twitter.com/WQIVRJ81vR
The current value of the metric is approximately -31,000 BTC, a substantial improvement from January 9, when it fell to -132,000 BTC.
For a full market recovery, this positive trend must solidify, and demand must exceed supply. However, Darkfost warned of risks. Threats from U.S. President Donald Trump to impose new tariffs have added uncertainty to the markets, complicating further growth in the short term.
Market Cooling and Accumulation
A decrease in trading activity and stabilization of Bitcoin's price may indicate the beginning of an early accumulation phase, according to CryptoQuant author maartunn.
'@Nexo Spot Volume Bubble Map Shows Signs of Accumulation
— CryptoQuant.com (@cryptoquant_com) January 19, 2026
“This phase often precedes renewed bullish momentum, as weaker hands exit and informed buyers quietly re-enter.” – By @JA_Maartun
Link ⤵️https://t.co/O5uz0Lou1f pic.twitter.com/26Lglk0c96
The expert compared the current situation to early 2024, when spikes in activity (red indicators) signaled market overheating. Now, despite price corrections, green markers indicating "cooling" have appeared.
This phase often precedes a new bullish impulse, during which "weak hands" sell off assets while informed buyers quietly return to the market.
“In simple terms: volumes are decreasing, and this is a bullish signal,” the analyst concluded.
Macroeconomic Context and Correlation
Alphractal analyzed the decoupling of cryptocurrencies from the stock market. While the S&P 500 reached historical highs, digital assets showed subdued dynamics.
— Alphractal (@Alphractal) January 19, 2026
Experts noted that Bitcoin and altcoins are currently more closely correlated with the Russell 2000 index of small-cap companies than with tech giants. This indicates the cryptocurrency market's dependence on broader economic cycles rather than just hype around artificial intelligence.
Another factor is the shift of capital into the commodity sector. The falling gold-to-silver ratio and rising futures for industrial metals (copper, aluminum, nickel) suggest a revival in industrial demand.
Alphractal concluded that for a full bull rally, a loosening of monetary policy by central banks is necessary to stimulate economic growth and risk appetite.
As a reminder, on January 19, the price of the first cryptocurrency dropped from $95,467 to $92,263. Following Bitcoin, leading altcoins also entered the "red zone."