Bitcoin April Rally Driven by Futures as Spot Demand Contracts CryptoQuant Warns of Weak Underlyin
CryptoQuant data suggests Bitcoin’s April rally was mainly fueled by perpetual futures demand rather than spot buying. At the same time, spot demand actually declined, showing less real accumulation in the market. This kind of imbalance means price movement may be more leverage-driven than supported by long-term buyers. Historically, similar conditions have appeared in early phases of corrective or unstable market periods, such as 2022. While this doesn’t confirm a trend reversal, it does highlight a fragile structure where momentum can shift quickly. For now, the key factor to watch is whether spot demand returns to support price stability.
$ETH Historical Insight — May Volatility May stands out as one of the most unpredictable months for $ETH . Looking at historical data: • Returns vary widely — both strong upside and sharp downside • Averages and medians don’t tell a clear directional story • Volatility is the only consistent pattern Bottom line: May isn’t about trend it’s about reaction. Expect aggressive moves in both directions, not a slow grind. Stay flexible. Manage risk.
$ETH still looking heavy here, no real strength yet.
Price tapped the 2220 zone and bounced, but structure still weak with lower highs building. MACD also sitting in negative, so bulls need a clean reclaim before any real move.
Plan is simple:
Long near support, not in the middle. Entry: 2225–2240 SL: 2195 TP: 2295 / 2310 / 2345
If price pushes into 2295–2310 and rejects again, that’s your short zone. Short entry: ~2300 SL: 2330 TP: 2240 / 2220
Right now it’s a range game, not a breakout market. Patience chasing.