According to CryptoQuant, Bitcoin’s 20% price surge in April (from $66,000 to $79,000) was driven primarily by perpetual futures demand while spot demand remained negative throughout the period. Head of research Julio Moreno said this divergence—rising futures alongside contracting spot demand—is a clear signal the rally lacks structural foundation. The CryptoQuant Bull Score Index fell from 50 to 40 in April, returning to bearish territory, indicating deteriorated onchain fundamentals. “Such configurations historically lack the structural foundation to sustain price gains and typically resolve via correction once futures positioning unwinds,” Moreno wrote. Bitcoin was trading near $78,500 at the time of reporting.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Deribit Trader Buys 800 BTC Bull Call Spread at $80K and $85K Strikes
According to Deribit APAC business head Lin Chen, a derivatives trader purchased 800 BTC bull call spread options on May 4, buying $80,000 call options while selling $85,000 call options, signaling a bullish outlook on Bitcoin's near-term price
GateNews16m ago
Morgan Stanley Bitcoin ETP Launch; Adoption Timeline Uncertain
Morgan Stanley launched the first bank-issued Bitcoin exchange-traded product (ETP), but the firm's advisors and regulators still face significant hurdles before Bitcoin appears on U.S. bank balance sheets at scale, according to Amy Oldenburg.
Morgan Stanley's Bitcoin ETP Initiative
Morgan Stanle
CryptoFrontier22m ago
Trump's Project Freedom Drives Bitcoin Rise on Oil Decline Expectations
Park Sang-hyuk, editor of Digital Asset publication, explained that Bitcoin prices rose following U.S. President Donald Trump's announcement of 'Project Freedom' due to market expectations of declining oil prices, according to his appearance on SamproTV on the 4th.
Project Freedom Background
Proj
CryptoFrontier52m ago
BlackRock Bitcoin ETP IB1T Surpasses $1.1B in AUM, Holds 14,200 BTC on May 4
According to Wu Blockchain, BlackRock's iShares Bitcoin ETP (IB1T) surpassed $1.1 billion in assets under management on May 4, with holdings of approximately 14,200 BTC. The product launched in March 2025 and is listed across multiple European
GateNews1h ago
Strategy Pauses Bitcoin Purchases Before Earnings, Recently Bought 3,273 BTC for $255M
Michael Saylor announced on X this week that Strategy is halting its Bitcoin accumulation ahead of its upcoming quarterly earnings report. The company's most recent purchase occurred between April 20 and April 26, when it acquired 3,273 BTC for approximately $255 million, bringing its total holdings
GateNews1h ago
Bitcoin Spot ETFs See $154M Inflows in Week of April 27, Fifth Consecutive Week of Gains
According to SoSoValue data, Bitcoin spot ETFs saw $154 million in net inflows during the trading week of April 27–May 1. BlackRock's IBIT led inflows with $136 million, bringing its total net inflows to $65.5 billion. The asset class has now recorded five consecutive weeks of positive flows, with t
GateNews1h ago
