According to ChainCatcher, as reported by Cointelegraph, the price of Bitcoin has risen above $90,000, reaching a three-week high. Data shows that despite the price rebound, demand for leveraged long positions in Bitcoin remains stable, with the Bitcoin futures basis rate below the neutral threshold, currently showing an annualized premium of 4%. In addition, funding flows in derivative and spot ETFs indicate that traders remain cautious, suggesting limited confidence in further price increases. Since December 15, Bitcoin spot ETFs have recorded a net outflow of over $900 million, while Bitcoin put options traded at a premium on Saturday, indicating increased demand for downside risk protection among professional traders.
Bitcoin Reaches $90,000, But Derivatives and ETF Flows Signal Cautious Market Sentiment
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Summary
Bitcoin rose above 90,000 USD, reaching a three-week high, but market sentiment remains mixed. Futures basis rates are currently below neutral, with an annualized premium of 4%. Derivatives and ETF flows indicate caution, as spot ETFs have experienced outflows exceeding 900 million USD since December 15. Put options traded at a premium on Saturday, signaling increased demand for downside protection. Support and resistance levels are closely monitored as traders remain hesitant about further price gains.
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