[CryptoQuant Founder: Current Bitcoin Market Driven Mainly by Futures Market] According to a report by Jinse Finance, on April 27, CryptoQuant founder and CEO Ki Young Ju posted on the X platform stating that the current Bitcoin market is mainly driven by the futures market. Open Interest is rising, but despite ETF inflows and Michael Saylor's continued buying, on-chain apparent demand remains net negative. Historically, a bear market only truly ends when both spot demand and futures demand recover simultaneously.