2026-05-02 20:37:12
Bitcoin's April 20% Surge Was Speculative, Driven by Futures Not Spot Demand: CryptoQuant
According to onchain analytics firm CryptoQuant, Bitcoin's approximately 20% price surge in April—from around $66,000 to as high as $79,000—was driven by speculative perpetual futures demand rather than fundamental spot buying, increasing correction risk.
CryptoQuant's head of research, Julio