In strong, sustainable trends, spot demand confirms derivatives activity.
When futures surge but spot volume stays passive, something important is happening.
Derivatives represent leverage.
Spot represents real capital.
If price rises aggressively on futures expansion while spot remains weak, the move is leverage-driven — not allocation-driven.
Leverage can push price.
But leverage must eventually close.
This creates fragility.
Professionals monitor: • Futures volume vs spot volume
• Open interest expansion without spot confirmation
• Funding rising without real accumulation
When derivatives lead alone, the move becomes structurally vulnerable.
Retail sees breakout momentum.
Institutions see imbalance risk.
Sustainable trends are built on absorption and real buying.
Unsustainable trends are built on leverage.
When you learn to distinguish between the two,
you stop chasing speed
and start evaluating durability.
And durability — not velocity —
is what determines whether a move survives.