CoinJie News: On April 23 (UTC+8), CryptoQuant research director Julio Moreno posted an analysis on the X platform saying that the recent rise in Bitcoin prices is entirely driven by demand in the perpetual contract market, while spot demand is still shrinking (even though the rate of decline has slowed somewhat). The same situation also occurred when Bitcoin rose to $98k in January this year. If traders start taking profits while spot demand continues to fall, the market faces a risk of a pullback.

BTC-0.91%
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