According to Woofun AI, CryptoQuant writer Darkfost believes that Bitcoin's recent price rebound is continuous, and the core logic is a resonant increase in demand in the spot and futures markets.

According to data compiled by Woofun AI, the spot and futures markets have absorbed a total of about 170,000 BTC over the past month. Looking back at historical experience, when total demand hits this threshold, it often corresponds to the establishment of a subsequent continuous upward trend, providing solid data support for the current market.

Although short-term indicators suggest that the market may be overbought, strong buying is effectively absorbing the power of arbitrage sell-off. This dual demand structure, composed of retail investors, institutional investors, and derivatives participants, has weakened the risk of a sharp pullback caused by a single leverage effect, indicating that the current rebound is driven by real purchasing intentions rather than simply relying on speculative leverage.

The current market structure is healthy, and the simultaneous rise in demand for spot and futures has reduced the risk of fluctuations due to unbalanced positions. Traders should closely track demand indicators and on-chain data to identify the boundary between actual intention to buy and speculative leverage, so as to grasp the subsequent trend of Bitcoin in the midst of potential changes.

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