As long as someone participates in the market, there will be ups and downs. This means that the ups and downs of the market are caused by the behavior of traders. When traders are mostly bullish, they naturally go up. When there are many short positions, the market enters a downward trend, as simple as that. The relationship between spot supply and demand does affect the trend of futures, because the rise and fall of futures is based on the relationship between spot market supply and demand and future expectations.