Bitcoin Risks Extended Decline After Futures-Driven April Rally, CryptoQuant Warns
Bitcoin could be facing a multimonth price decline following an April rally driven primarily by futures traders while spot demand contracted, according to crypto analytics firm CryptoQuant. The firm warned that this pattern has historically preceded sustained price drops. Bitcoin gained approximately 20% in April, climbing from $66,000 to peak at $79,000 in a rally…
