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Bitcoin may face downward pressure after April’s rally
According to CryptoQuant, the current market situation resembles the start of the decline in 2022:
Futures contract demand is rising, but actual buying (spot) is weak.
The April rally (+20%) was not supported by strong accumulation; instead, it was mostly driven by leveraged traders (Futures), and historically, this is what comes before a sustained decline.
In clearer terms: ال