- Bitcoin price driven by futures while spot demand remains weak
- BTC rejected near $79,500 with support forming around $77,000
- Market awaits FOMC decision as key macro trigger for direction
Bitcoin’s rally may not be as stable as it appears right now. Despite rising futures activity and steady ETF inflows, on-chain data shows weak spot demand. Analyst Ki Young Ju warns that this imbalance has historically led to volatility, leaving Bitcoin vulnerable unless real buying interest returns soon.
Bitcoin Price Shows Weak Spot Demand Despite Futures Growth
The Bitcoin price is showing mixed signals, with futures activity rising while spot demand remains weak. According to CryptoQuant CEO Ki Young Ju, the current market is largely driven by derivatives rather than real buying interest.
At press time, BTC is trading near $76,845 after a 1.82% decline over the past 24 hours. Data shows that open interest is increasing, while ETF inflows and institutional purchases continue. However, on-chain metrics reveal that apparent spot demand remains negative.
Ki Young Ju stated that “bear markets only end when both spot and futures demand recover together.” This suggests the current Bitcoin price structure may lack strong support from long-term buyers.
Bitcoin Price Range Tightens Ahead of Key Macro Events
The Bitcoin price recently faced rejection near $79,500, leading to a quick drop below $77,000. This move placed the BTC price within a defined range, with support near $77,000 and resistance between $79,500 and $80,000.
Short-term direction remains uncertain as the market reacts to external factors. The upcoming FOMC meeting on April 28–29 is a key event. It may influence liquidity conditions and investor sentiment across risk assets.
Institutional demand remains active, with Strategy purchasing 3,273 BTC worth $255 million. The company now holds over 818,000 BTC. At the same time, digital asset investment products recorded $933 million in inflows last week, according to CoinShares data.
Despite continued futures activity, the Bitcoin price remains sensitive to shifts in macro conditions. Without strong spot demand, upward moves may face resistance.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
