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Bitcoin may face downward pressure after April rally
According to CryptoQuant, the current market situation resembles the start of the decline in 2022:
Demand for futures contracts is rising, but actual buying (spot) is weak.
The April rally (+20%) was not supported by strong accumulation, but mostly by leveraged traders (Futures), and historically, this was followed by a continuous decline.
In clearer terms: the rise was driven by speculation, not real market strength.
Do you think the market will defy history if it repeats the same scenario?