According to a report by CryptoQuant, CoinBiewang news says that after Bitcoin’s rally in April, it may face more downside pressure. The current demand pattern is similar to the early stage of the 2022 bear market, when futures demand surged while spot demand fell. Bitcoin’s 20% gain in April was mainly driven by perpetual contract traders rather than strong spot purchases. CryptoQuant’s charts show that this setup “ultimately leads to sustained price declines.”

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