spot against perp #CVD

The spot flow is often considered 'cleaner' as it represents demand without leverage, while perp-driven actions are often dismissed as false or traps due to leverage and funding dynamics.

Although this statement is mostly true, it requires an important distinction.

Whose efforts are rewarded by the price?

> If the buyers of primary goods are aggressive but the price cannot rise or stops, it means the market is absorbing primary demand = weak movement.

> If the spot flow is neutral or unchanged, investors continue to buy and the price continues to rise, then the efforts are rewarded. The supply is insufficient to stop the movement, regardless of the source of demand.

In this scenario, calling this step 'bearish' or 'false' simply because it is driven by perp is incorrect.

The market does not care where the demand comes from, only whether it will be rewarded.