So this wave is driven by leveraged funds partying, not genuine buying interest; the risk signals are flashing.

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CryptoFrontier
CryptoQuant: Bitcoin's April Rally Was 'Speculative,' Spot Demand Weak
Onchain analytics firm CryptoQuant has characterized Bitcoin's April price surge as a "speculative rally" driven primarily by perpetual futures demand rather than fundamental buying support, warning of increased correction risk. According to CryptoQuant's analysis, Bitcoin rose approximately 20% in
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