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Bitcoin may face downward pressure after April’s rally
According to CryptoQuant, the current market setup resembles the beginning of the downturn in 2022:
Futures contract demand is rising, but real buying (spot) is weak.
April’s rally (+20%) was not supported by strong accumulation; instead, it was mostly driven by leveraged traders (Futures), and historically this has been followed by a sustained decline.
In clearer terms: the ال$BTC