- CryptoQuant CEO Ki Young Ju said the current rise in Bitcoin is being led by the futures market.
- He said open interest (OI) is increasing, but on-chain spot demand remains in net selling territory.
- Ju said a sustainable rally requires both spot and futures demand.
Forecast Trend Report by Period
Bitcoin’s recent advance is being driven by futures trading, and a sustained rally will require a recovery in spot demand, according to CryptoQuant CEO Ki Young Ju.
Writing on X on August 11, Ju said Bitcoin is currently being led by the futures market. Open interest is rising, but on-chain spot demand remains in net selling territory, he wrote.
Open interest refers to the volume of outstanding derivatives contracts, including futures and options, that have not been closed. An increase in open interest typically signals fresh capital entering the market and a buildup in leveraged positions.
