Odaily Planet Daily News: Bitcoin's price rose today above $90,000, reaching a three-week high. However, the flow of funds into derivatives and spot ETFs indicates that traders remain cautious, suggesting limited confidence in further price increases. Data shows that despite the rebound in price, demand for leveraged long positions in Bitcoin has remained stable, and the Bitcoin futures basis rate is below the neutral threshold, with an annualized premium of 4%. Since December 15, Bitcoin spot ETFs have recorded a net outflow of over $900 million. Additionally, Bitcoin put options traded at a premium on Saturday, indicating increased demand from professional traders for downside risk protection. (Cointelegraph)
BTC Reaches 90,000 USD, But Market Confidence in Further Gains Remains Limited
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Summary
Bitcoin reached $90,000 on Monday, marking a three-week high, but market trends indicate limited optimism for further gains. Derivatives and spot ETF data show cautious positioning, with stable leveraged long demand and a Bitcoin futures basis rate below neutral at 4% annualized. Since December 15, spot ETFs have experienced outflows exceeding $900 million. Put options traded at a premium on Saturday, signaling increased demand for downside protection. Amid mixed market trends, value investing in crypto remains a key focus.
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