Bitcoin Demand Turns Positive as Price Rebounds Above $70K

Bitcoin has turned positive in both spot and perpetual futures markets for the first time since October 2025, according to CryptoQuant founder Ki Young Ju. This shift comes as Bitcoin rebounded above $70,000 on Thursday, reaching its highest level since June 2, 2026.

The cryptocurrency has gained nearly 18% over the last five trading sessions, indicating renewed optimism among investors. While the improvement remains modest, Ki Young Ju said that sustained demand could signal a broader change in market conditions.

A continued recovery in both spot and perpetual futures demand could indicate that the recent rebound is gaining a more durable foundation. The scale remains modest, but if this holds for another month, it would be reasonable to conclude that the bear market is over and a new bull cycle has begun, Ki Young Ju said.