Bitcoin Rally May Fade Without Spot Demand, CryptoQuant CEO Warns

BitcoinWorld Bitcoin Rally May Fade Without Spot Demand, CryptoQuant CEO Warns Bitcoin’s recent price recovery may prove short-lived unless spot market demand catches up with futures activity, according to Ki Young Ju, CEO of on-chain analytics firm CryptoQuant.

In a post on X, Ki noted that open interest in Bitcoin futures is rising while on-chain spot demand remains in net decline, a divergence that historically signals weak rally sustainability.

Futures-Led Moves Lack Staying Power Ki highlighted that the April uptrend was driven primarily by futures traders, but the move failed to hold because spot demand did not provide the necessary support.

He emphasized that both spot and futures demand are essential for a sustained advance, and the current conditions do not yet meet that threshold.