Traders are hopeful that Bitcoin’s current pricing reflects a “generational bottom,” but noshitcoins says BTC derivatives data shows we’re not out of the woods just yet.
Celsius is among several crypto yield platforms on the brink of insolvency after historic losses across multiple positions. Forced sales on leveraged positions by exchanges and decentralized finance applications accelerated the recent cryptocurrency price crash.
These fixed-month contracts tend to trade at a slight premium to spot markets as sellers request more money to withhold settlement longer. This situation is technically known as"contango" and is not exclusive to crypto markets. Thus, futures should trade at a 5% to 10% annualized premium in healthy markets.Bitcoin annualized futures' premium went negative on June 28, indicating low demand from leverage buyers.
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