April Bitcoin Surge Driven by Perpetual Futures Amid Correction Risks
- Bitcoin rose approximately 20% in April, reaching nearly $79,000.
- The surge was primarily driven by demand for perpetual futures, not spot trading.
- Spot demand remained negative throughout the period, indicating a speculative rally.
- CryptoQuant’s Bull Score index fell from 50 to 40, suggesting bearish conditions.
- Current Bitcoin trading price is around $78,500 on Binance.
The recent rise in Bitcoin’s value highlights a reliance on speculative trading rather than genuine market demand, raising concerns about potential corrections in the future. Analysts have noted that historical trends indicate unsustainable growth during bear markets when driven by futures contracts.
With Bitcoin’s price climbing from approximately $66,000 to nearly $79,000 largely due to perpetual futures, experts warn of significant correction risks ahead if spot demand does not improve.(Source)
