Bitcoin Demand Turns Positive After Three Months, BTC Price Eyes $70K Breakout

Bitcoin's on-chain demand has finally flipped into the positive territory after three months of sustained structural weakness. According to data from CryptoQuant, the 30-day 'Apparent Demand' metric has moved back into positive territory, indicating new capital entering Bitcoin while reducing selling pressure.

The development follows weeks of negative readings in the Coinbase Bitcoin Premium Index, which has now turned positive for the first time since January 15. This signals a revival of US institutional demand and supports the recent BTC price rally.

Spot Bitcoin ETFs have also seen significant net inflows, with over $500 million recorded on February 25. BlackRock's IBIT led the charge with $297 million in inflows, followed by Grayscale's GBTC at $102 million.