CryptoQuant CEO: The rise in Bitcoin is driven by futures, while on-chain spot demand remains negative

2026-04-27 13:45:45

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CryptoQuant CEO Ki Young Ju stated that the recent rise in Bitcoin is mainly driven by the futures market, while on-chain spot demand remains negative.

He pointed out that, based on historical experience, bear markets typically require a synchronized recovery of both spot and futures demand to potentially end.

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BTC futures market on-chain demand

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