Bitcoin Spot and Perpetual Demand Rise Together for First Time Since October ATH: CryptoQuant CEO

BitcoinWorld Bitcoin Spot and Perpetual Demand Rise Together for First Time Since October ATH: CryptoQuant CEO Bitcoin spot demand and perpetual futures demand have both turned positive for the first time since the asset reached its all-time high in October 2025, according to Ki Young Ju, CEO of the on-chain analytics firm CryptoQuant.

In a post on X, Ju noted that the increase is still modest, but if the trend persists for another month, it could signal the end of the bear market and the beginning of a new bull cycle.

What the Data Shows Ju’s observation is based on CryptoQuant’s proprietary metrics that track buying pressure in both the spot market and the perpetual futures market.

Spot demand reflects actual purchases of Bitcoin on exchanges, while perpetual futures demand indicates leveraged trading activity.