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Julio Moreno: Bitcoin's rise is driven by demand for perpetual contracts

Julio Moreno: Bitcoin's rise is driven by demand for perpetual contracts

AIcoinAIcoin2026/04/23 06:15
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CryptoQuant Head of Research Julio Moreno stated on X that the recent rise in Bitcoin prices has been driven entirely by demand in the perpetual contracts market, while spot demand continues to decline but at a slower pace. He mentioned that a similar situation occurred in January this year when Bitcoin surged to $98,000; if traders take profits and spot demand continues to shrink, the market could face a risk of correction.
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