Summary
- The Bitcoin futures-to-spot ratio has reached its lowest point of the year.
- It was reported that if futures trading volume increases, the risk of forced liquidation and price instability could rise.
- Bitcoin is striving to recover the range of $97,200 to $98,500 as a key support level.
The ratio of Bitcoin (BTC) futures to spot (trading volume) has hit its lowest point of the year.
On the 9th (local time), Negentropic, the account of the Glassnode founder, stated on X, "The BTC futures-to-spot ratio has reached its lowest point of the year," adding, "In this situation, if futures trading volume surges, the risk of forced liquidation and price instability will increase further."
Furthermore, it was mentioned, "Bitcoin is striving to recover the range of $97,200 to $98,500, which is a key support level for breaking through $100,000."
As of 6:19 PM, Bitcoin is trading at $97,830 on the Binance USDT market, up 0.93% from 24 hours ago.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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