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Ki Young Ju, founder & CEO at CryptoQuant, observes that demand for Bitcoin spot trading is weakening.
He adds that while futures demand remains net positive, it is significantly lower than during the rebound three months ago.
Earlier this year, Ki Young Ju highlighted that Bitcoin remained above its typical cycle bottom, where risk and reward usually shift according to his analysis. In a separate note, he said that large-scale BTC purchases acted as a liquidity sink and advocated for a pause to rebuild reserves in comments on institutional strategies. These observations come as current spot trading demand appears to be cooling.