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Bitcoin futures point to a bottom
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Bitcoin futures point to a bottom

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Representatives of the analytical company IntoTheBlock report that now futures contracts for bitcoins are sold at a lower price than in the case of the spot value of the main cryptocurrency asset. On Twitter, IntoTheBlock representatives report that, despite the fact that there is a trend of high activity of traders in the direction of sales, arbitrage in the market is still possible.

This situation is called backwardation. It allows smart crypto traders to buy a futures contract and sell the spot, allowing them to make a profit. According to analysts from IntoTheBlock, such a phenomenon in the cryptocurrency market can be traced just as a result of reaching the bottom, after which cryptoassets begin to grow rapidly. In exactly the same scenario, Bitcoin moved in the spring of 2020 and 2021.

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Now traders are actively continuing to sell BTC out of fear of a further price drop. In general, such a market situation creates a good opportunity to purchase a flagship digital asset at a better price.

Bitcoin futures point to a bottom. Photo 1

Times when futures contracts are in backwardation tend to coincide with market bottoms, as happened in March 2020 and May 2021.

A similar trend can be observed with extremely negative funding rates. Has Bitcoin bottomed out?

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