🐋 WHALE WATCH: This April rally feels a bit off. CryptoQuant is warning that the 20% surge from $66k to $79k was driven almost entirely by perpetual futures. Spot demand actually stayed in a contraction. This exact divergence rising price with falling spot demand is what we saw at the start of the 2022 bear market. It usually leads to a correction once the leverage unwinds. Are you de risking here or holding through ?(Whale Factor)