Deribit-listed bitcoin (BTC) futures set to expire this Friday now trade marginally below the exchange’s index price, flashing a discount in a sign of weak demand for the cryptocurrency.
“What we have seen is that near-tenor (7d and shorter) yields have dipped to the negative for the first time in over a year,” Andrew Melville, a research analyst at Block Scholes told CoinDesk in a Telegram chat. “This means that futures prices are trading below spot, which we take as a significantly bearish indicator.”
Deribit is the world’s leading crypto options exchange and a preferred venue for sophisticated traders looking to employ synthetic strategies involving futures, options and spot markets.
Read MoreCoinDesk: Bitcoin, Ethereum, Crypto News and Price Data[#item_full_content]
The bitcoin (BTC) perpetual futures funding rate is fluctuating between positive and negative, reflecting market…
RLinda, a TradingView crypto analyst who predicted Bitcoin’s previous crash from $91,000, has shared another…
Cryptocurrencies extended a sell-off on Monday as risk assets including equities tanked during the early…
Coinbase Derivatives is looking to launch round-the-clock futures trading of bitcoin (BTC) and ether (ETH),…
The South Korean Democratic Party has called for the formation of a Bitcoin reserve in…
President Trump's executive order calling for the formation of a strategic bitcoin (BTC) reserve and…