PANews reported on April 27th that CryptoQuant CEO Ki Young Ju stated in an article on the X platform that Bitcoin's current rise is primarily driven by demand in the futures market. While open interest is increasing, despite ETF inflows and Strategy's buying, apparent on-chain demand remains negative. Historically, a bear market only ends when both spot and futures demand recover.
Analysis: Bitcoin's current rise is driven by demand in the futures market, while spot demand has not yet recovered.
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Author: PA一线
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