Analysis shows that the current rise in Bitcoin is driven by demand in the futures market, while spot demand has not yet recovered
CryptoQuant CEO Ki Young Ju posted on the X platform that the current rise in 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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