Futures open interest climbs but spot demand lags, Ki Young Ju notes

Futures open interest climbs but spot demand lags, Ki Young Ju notes
Bitcoin futures up, spot demand lags

Ki Young Ju, Founder & CEO at CryptoQuant, highlights that Bitcoin is currently driven by futures trading, with open interest on the rise. Despite this increase and recent ETF inflows along with purchases by Strategy's Michael Saylor, on-chain demand appears net negative.

Historically, he observes that bear markets in Bitcoin tend to end only when both spot and futures demand show recovery.

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