CryptoQuant CEO: BTC market led by futures, spot demand still sluggish

Ki Young Ju, CEO of CryptoQuant, stated on X that the Bitcoin market is currently being driven by futures. He noted that while open interest is increasing, the "Apparent Demand" indicator, which reflects the market's actual BTC demand, remains negative despite ETF inflows and purchases by Michael Saylor. Historically, bear markets tend to end when spot and futures demand recover simultaneously, he added.