Bitcoin's Current Rally Driven by Futures Demand, Spot Demand Yet to Recover: CryptoQuant CEO

BTC1.04%

Gate News message, April 27 — According to CryptoQuant CEO Ki Young Ju, Bitcoin's current rally is primarily driven by futures market demand rather than spot demand recovery. Open interest has risen and ETF inflows continue alongside buying from Strategy, yet on-chain apparent demand remains net negative.

Based on historical patterns, Ki Young Ju noted that a sustained bear market reversal typically requires both spot and futures demand to recover simultaneously.

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