Bitcoin’s short-term demand could be muted by global economic risks and fiscal challenges.
Bitcoin (BTC) experienced significant selling pressure on Jan. 13, falling below $90,000 for the first time in eight weeks. This decline represented a 12.5% price drop over seven days, tempering traders’ optimism. Despite this, Bitcoin derivatives metrics signaled a neutral to bearish outlook, suggesting that whales and market makers remained largely unaffected by the downturn.
Bitcoin 2-month futures annualized premium. Source: Laevitas.ch
Bitcoin futures monthly contracts typically trade at a premium over the spot market due to their longer settlement period. The current annualized premium of 11% exceeds the neutral range of 5% to 10%, reflecting optimism among market participants. Similarly, the funding rate for perpetual BTC contracts—preferred by retail traders—has remained positive, indicating a neutral to positive sentiment.
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