Bitcoin's 20% April Rally Driven by Futures, Not Spot Demand; CryptoQuant Warns of Correction Risk

BTC-0.63%
According to CryptoQuant, Bitcoin's 20% April rally—rising from around $66,000 to as high as $79,000—was driven primarily by perpetual futures demand while spot demand remained negative throughout the period. The onchain analytics firm said this divergence mirrors patterns historically associated with unsustained price gains. CryptoQuant's Bull Score Index declined from 50 to 40 in April, returning to bearish territory, suggesting the market lacks structural support for sustained breakouts. Bitcoin is currently trading at around $78,500.
Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.
Comment
0/400
No comments