New data from CryptoQuant shows that Bitcoin demand has fallen to its most bearish level of the year, according to analyst “Darkfost.”
The “Apparent Demand” indicator reveals a sharp decline in buying appetite across the market, with the metric turning deeply negative during May 2026 alongside falling prices and rising sell pressure.
Analysts say weaker investment inflows, slowing institutional demand, rising U.S. Treasury yields, and renewed interest rate concerns continue to weigh on the crypto market.
Despite the current weakness, some investors believe periods of deeply negative demand have historically marked long-term accumulation zones before major market recoveries.