Summary
- Even though Bitcoin (BTC) has reached a new all-time high, an analysis indicates that the full-fledged bull market has not started yet.
- It was stated that since the spot price is currently higher than the futures price, there are no signs of the market overheating.
- It was pointed out that, historically, when the futures price exceeds the spot price, there have often been surges in Bitcoin due to leverage in the derivatives market and FOMO (Fear Of Missing Out).
Bitcoin (BTC) has surpassed its all-time high and is on the verge of breaking $120,000, but an analysis suggests that the true bull market has not yet arrived.
On the 14th (KST), CryptoQuant contributor João Watson stated in a report, "According to Binance, the current Bitcoin spot price is forming a higher price range than the futures price," adding, "This is evidence that the market is not yet overheated."
Watson predicted that the market could gradually turn optimistic. He explained, "The spread between spot and futures prices is gradually narrowing," and "Historically, when the futures price trades higher than the spot price, Bitcoin has often surged due to leverage and FOMO in the derivatives market."
Uk Jin
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