All is not well in Bitcoin derivatives land, new data from ArcaneResearch reveals.
In its
issued Aug. 23, analysis firm Arcane Research painted a worrying picture of morale among BTC futures participants.during June’s BTC price drop, which has since held as a macro bottom, Bitcoin derivatives have not been the same.Futures basis — the difference between futures contract prices and the Bitcoin spot price — is already back at lows only seen during June’s dip to $17,600.
“Overall, the current futures basis sits at levels only experienced briefly during the June crash,” Arcane confirmed, adding that the data is “indicative of a very bearish sentiment among futures traders.”Beating out prior lows from July 2021, those contracts now trade at their biggest-ever discount to spot price.
“Overall, CME’s futures have tended to trade at a discount in the last two months but saw a solid short-lived recovery during the early August strength in the market,” the report continued.Arcane argued that “structural effects” within the derivatives market could go some way to explaining the behavior, but that “worsening liquidity or general de-risking” were both still a risk.
“While BTC derivatives might signal a climate ripe for a short squeeze, the choppy trading range alongside global market turmoil speaks in favor of conservative positioning and gradual accumulation in the spot market,” it concluded.its application for a Bitcoin spot price exchange-traded fund in June, meanwhile, the largest institutional Bitcoin investment vehicle continues to struggle.The Grayscale Bitcoin Trust is still trading at more than a 30% discount to the Bitcoin spot price.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Bitcoin sits at range high as realized price sparks BTC 'macro signal'BTC price may have just seen a new bottom signal, Bitcoin realized price data shows.
Les mer »
Bitcoin, Ethereum Technical Analysis: ETH Moves Towards $1,700, BTC Largely Unchanged – Market Updates Bitcoin NewsEthereum moved closer to $1,700 in today’s session, as prices continued to rebound following recent losses.
Les mer »
Bitcoin Outlook: BTC/USD Stagnates Ahead of Fed Chair Powell’s SpeechBitcoin stabilizes above $21,000 psychological support. Tomorrow’s economic docket could assist in the catalyzation of price action as PCE, Michigan sentiment and Fed Chair Jerome Powell’s speech take center stage.
Les mer »
First Mover Americas: Ether Outperforms Bitcoin; CME BTC Futures Hit a Huge Discount to Spot Pricesether is up 2% on the day, outperforming bitcoin. Data from Arcane Research shows parallels between the current bear market and the 2018 bear market. LedesmaLyllah reports in First Mover by CoinDesk Markets
Les mer »
Short-Term Signs of Worry for Bitcoin as BTC Miners Balance Turns NegativeBitcoin's price might be headed in for more pain in the short term, but will it be a buying opportunity?
Les mer »
Bitcoin price taps $21.3K ahead of Fed Chair Powell Jackson Hole speechTense times for Bitcoin markets ahead of fresh comments from Fed Chair Jerome Powell.
Les mer »