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Bitcoin Crosses $100K While Futures Basis Remains Surprisingly Low 

Bitcoin Crosses $100K While Futures Basis Remains Surprisingly Low 
Bitcoin's recent rally to $100,000 has caught attention, particularly due to the low futures basis levels observed across top exchanges. In the past, major price increases were accompanied by high futures basis percentages, indicating speculative trading and leverage. However, this time, the futures basis stayed below 15%, suggesting a shift towards stronger underlying demand in the spot market and reduced reliance on speculative trading. This indicates a more uniform market structure and possibly the involvement of institutional buyers who favor spot purchases over leveraged positions. The low futures basis levels have sparked discussions within the cryptocurrency community, with some considering it a sign of strong fundamentals and others emphasizing its rarity during a major price increase. This unexpected development has led to questions about whether Bitcoin's current rally signifies a change in the market dynamics, with reduced dependence on leverage and a shift towards sustainable growth based on fundamental interest.

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