CryptoQuant Founder: Bitcoin Spot and Perpetual Futures Demand Turns Positive for First Time Since October 2025

CryptoQuant founder Ki Young Ju said in a post on X that demand for bitcoin spot and perpetual futures has turned positive for the first time since hitting an all-time high in October 2025. The scale of demand remains small, but if this trend continues for a month, it would be reasonable to conclude that the bear market is over and a new bull cycle has begun.