PANews April 23 news, CryptoQuant research director Julio Moreno posted an analysis on platform X, stating that the recent rise in bitcoin prices is entirely driven by the demand in the perpetual contract market, while spot demand continues to shrink (although the rate has slowed down). A similar situation occurred in January this year when bitcoin rose to $98,000. If traders start to take profits while spot demand continues to shrink, there is a risk of market correction.

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