Ki Young Ju, founder of CryptoQuant, characterized the Bitcoin (BTC) market as 'futures-driven' on August 12. While open interest (OI) is on the rise, on-chain spot demand continues to see a net decrease, according to his analysis.
In the same post, he emphasized that a sustained increase in Bitcoin's value necessitates a recovery in both spot and futures demand. He had expressed a similar sentiment on April 27...
