Analysis: Bitcoin's current rise is driven by futures market demand, while spot demand has not yet recovered.

Mars Finance News, CryptoQuant CEO Ki Young Ju posted on the X platform stating that Bitcoin’s current rally is mainly driven by futures market demand. Open interest has increased, but despite ETF capital inflows and Strategy’s purchases, on-chain apparent demand remains net negative. Historically, the bear market only ends when both spot demand and futures demand recover simultaneously.

BTC-0.26%
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