Bitcoin's recent price rebound has not translated into strong demand, according to on-chain metrics from CryptoQuant. As of May 1, 2026, the net demand for BTC is still negative at -44,700, indicating that accumulation is insufficient to support a sustained rally.
The data also shows that weekly on-chain demand for BTC decreased from -89,000 during the first week of April, suggesting that demand is bottoming out and beginning to stabilize. However, this stabilization has not yet reached the levels required to sustain a long-term rally.
Traders must continue to monitor key metrics of demand on the Bitcoin network to confirm whether there is a long-term shift in the structural trend for BTC demand. A substantial increase in Bitcoin accumulation would be a strong indicator of growing institutional interest and support for a more stable market condition.