Analysis shows that the current rise in Bitcoin is driven by demand in the futures market, while spot demand has not yet recovered

By: rootdata|2026/04/27 05:42:01

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CryptoQuant CEO Ki Young Ju posted on the X platform that the current rise in btc-42">Bitcoin is mainly driven by demand in the futures market. The open interest has increased, but despite the inflow of ETF funds and purchases from Strategy, the on-chain apparent demand remains net negative. Historically, the bear market only ends when both spot demand and futures demand recover.

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