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Analysis: The recent rise in Bitcoin has been driven by demand for perpetual contracts, while spot demand continues to shrink.

MeNews
ME News reports: On April 23 (UTC+8), CryptoQuant head of research Julio Moreno posted on X platform analyzing that the recent Bitcoin price increase is entirely driven by demand in the perpetual swaps market, while spot demand is still shrinking (although at a slower pace). The same situation occurred in January this year when Bitcoin rose to $98k. If traders start taking profits while spot demand continues to shrink, there is a risk of a correction. (Source: PANews)
BTC0.69%
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