Summary
- Cryptocurrency media CoinDesk revealed that Bitcoin futures on Deribit are trading at prices lower than the index price.
- This situation is being evaluated as a signal suggesting weakening demand, according to their analysis.
- Andrew Melville of Block Scholes stated that as futures are trading at lower prices than spot, this can be interpreted as a strong bearish indicator.
According to cryptocurrency media CoinDesk on the 10th (local time), bearish signals for Bitcoin (BTC) have been detected on Deribit.
The media analyzed, "Deribit BTC futures expiring on the 14th (local time) are trading at prices lower than the current Deribit index price," adding that "this signals weakening demand."
Andrew Melville, an analyst at Block Scholes, explained regarding this, "The yield, which was close to 10% on a 7-day basis, has turned negative for the first time in a year," adding that "this means futures are trading at lower prices than spot, which can be interpreted as a strong bearish indicator."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
