Gate News bot message, Gate market data shows that BTC has broken through 79,000 USDT, current price is 79,000 USDT.
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CryptoQuant: BTC’s April rally was driven by perpetual futures, warning of correction risks
The study said that in April, Bitcoin’s price was driven by perpetual contract longs, while spot demand remained weak. The rise increased from $66k to $79k, about 20%. The structure was similar to the early stages of the 2022 bear market. The research director warned that unless spot demand turns positive, it would be difficult to sustainably break above $79k, and correction risk is rising. The bull market score index fell from 50 to 40; spot “apparent” demand has stayed negative, suggesting that the rally may be driven by leverage rather than new buying.
ChainNewsAbmedia23m ago
Adam Back Reiterates $1 Million Bitcoin Price Target by Spring 2028
Adam Back, CEO of Blockstream, reiterated his prediction that Bitcoin will reach $1 million by spring 2028 in a recent interview. Speaking about current valuations, Back stated that Bitcoin is "mispriced" at its present level of around $78,000, noting that short-term price predictions are
GateNews49m ago
Bitcoin Breaks $79,000, Up 1.14% in 24 Hours
According to ChainCatcher, Bitcoin (BTC) broke $79,000 on Gate's trading platform, with the BTC/USDT pair gaining 1.14% over the past 24 hours.
GateNews2h ago
Bitcoin's April 20% Surge Was Speculative, Driven by Futures Not Spot Demand: CryptoQuant
According to onchain analytics firm CryptoQuant, Bitcoin's approximately 20% price surge in April—from around $66,000 to as high as $79,000—was driven by speculative perpetual futures demand rather than fundamental spot buying, increasing correction risk.
CryptoQuant's head of research, Julio
GateNews3h ago
Bitcoin Rises Nearly 3% in 24 Hours, Aims for $80,000 as Stocks Rally
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