• BTC Dominance: %
XBT.Market
Advertisement
  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us
No Result
View All Result
XBT.Market
No Result
View All Result
Home Bitcoin

Bitcoin futures data shows ‘improving’ mood’ despite -31% GBTC premium

Jon Hartney by Jon Hartney
July 27, 2022
in Bitcoin, Blockchain, Business, Market
0
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

CME futures data combines with numbers from derivatives platforms to suggest that investors are getting less fearful.

Bitcoin (BTC) traders may be nervous going into the Federal Reserve rate hike decision, but research suggests that the bulls are broadly gaining ground.

In a fresh update on July 26, analytics firm Arcane Research flagged what it calls “improving” sentiment among institutional traders.

Related articles

Bitcoin derivatives data shows room for BTC price to move higher this week

January 23, 2023

Bitcoin price consolidation opens the door for APE, MANA, AAVE and FIL to move higher

January 22, 2023

Caution mixed with “improving sentiment”

While attention has focused on the likelihood of a deeper macro low for BTC/USD to come, it appears that not every investor cohort is ready to run for the exit.

Even at current prices 70% below all-time highs, the mood among institutions is strengthening. For Arcane, the proof is in the rising premium being paid by CME Bitcoin futures clients.

This premium, while still low by historical standards, has been sloping upward through the second half of July.

“Basis premiums are now sitting at similar levels on CME and the offshore exchanges, indicating that the market sentiment is balanced among different groups of traders,” the update read.

“While the basis premium on CME has grown, it’s still just 2.2%, a relatively low level historically. This indicates that although sentiment is improving, traders still exercise caution.”

Bitcoin futures premium comparison chart (screenshot). Source: Arcane Research

In a similar trend, funding rates across derivatives platforms are currently slightly negative, pointing to a conservative view of future price action on the part of traders. A deeply negative average funding rate would suggest that the overriding view is that a price crash is due.

“Still, funding rates are considerably higher than for most of June when contagion effects ravaged the market,” Arcane continued.

As Cointelegraph reported, the Crypto Fear & Greed Index also continues to provide a commentary on growing investor confidence, recently ending its longest-ever stint in its lowest “extreme fear” zone.

Arcane meanwhile voiced caution about the extent of leverage in operation on the market expressed in “elevated” open interest.

“This high leverage makes the market vulnerable to either a short or long squeeze should a significant price movement occur on either side,” it added.

No let-up for the GBTC “premium”

Still struggling in the current environment, little signs of improvement are visible for the Grayscale Bitcoin Trust (GBTC).

Related: Sub-$22K Bitcoin looks juicy when compared to gold’s market capitalization

The giant Bitcoin fund still had a negative “premium” of over 30% as of July 27, marking some of its steepest discounts to the Bitcoin spot price in history.

According to data from on-chain monitoring resource Coinglass, GBTC’s discount stood at 31.75% on the day, the equivalent of buying Bitcoin at around $14,700.

As Cointelegraph previously noted, Grayscale is currently involved in legal action against US regulators over their refusal to allow a Bitcoin spot-based exchange-traded fund (ETF) on the market. GBTC, once able, should be converted to such an ETF product, the firm has said.

GBTC premium vs. asset holdings vs. BTC/USD chart. Source: Coinglass

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Read Entire Article
Tags: CointelegraphCryptocurrencyInvestmentMining Bitcoin
Share76Tweet47

Related Posts

Bitcoin derivatives data shows room for BTC price to move higher this week

by Jon Hartney
January 23, 2023
0

BTC options data suggest that the Bitcoin price rally still has legs, even with wider economic concerns growing and the

Bitcoin price consolidation opens the door for APE, MANA, AAVE and FIL to move higher

by Jon Hartney
January 22, 2023
0

BTC could take a break from its sharp rally and if BTC price bounces off underlying support, APE, MANA, AAVE...

Genesis bankruptcy case scheduled for first hearing

by Jon Hartney
January 22, 2023
0

The first hearing in Genesis Capital's bankruptcy case will be held on January 23, according to court filings

Terra lending protocol Mars to launch mainnet

by Jon Hartney
January 22, 2023
0

The Mars Hub will launch an independent Cosmos application chain and issue MARS to users who hold the token during...

Central African Republic eyes legal framework for crypto adoption

by Jon Hartney
January 22, 2023
0

A 15-member committee is tasked with working on a legal framework that will allow cryptocurrencies to operate in

Load More
  • Trending
  • Comments
  • Latest

Ethereum Classic gets ‘endorsement’ from Vitalik Buterin, but ETC price still risks 50% crash

July 27, 2022

Critique on Helium’s $6.5K monthly revenue causes a stir

July 28, 2022

All aboard! Elon Musk’s Vegas Loop now taking Dogecoin payments

July 7, 2022

Cardano Vasil hard fork hit with another delay for several weeks

July 29, 2022

All aboard! Elon Musk’s Vegas Loop now taking Dogecoin payments

0

Crypto owners banned from working on US Government crypto policies

0

Korean startup Uprise lost $20M shorting LUNC

0

Ethereum testnet Merge mostly successful — ‘Hiccups will not delay the Merge.’

0

Bitcoin derivatives data shows room for BTC price to move higher this week

January 23, 2023

Bitcoin price consolidation opens the door for APE, MANA, AAVE and FIL to move higher

January 22, 2023

Genesis bankruptcy case scheduled for first hearing

January 22, 2023

Terra lending protocol Mars to launch mainnet

January 22, 2023

XBT.Market

This website is an automated news feed powered by the Nebulome cloud system. The site is made possible by YYC TECH Consulting and Alberta Digital Mining Company. As a team with major crypto and bitcoin enthusiasm, we have curated major sources of news, trading and financial data to bring you, our viewer, an unbiased source of truth.

Recent Posts

  • Bitcoin derivatives data shows room for BTC price to move higher this week January 23, 2023
  • Bitcoin price consolidation opens the door for APE, MANA, AAVE and FIL to move higher January 22, 2023
  • Genesis bankruptcy case scheduled for first hearing January 22, 2023
  • Terra lending protocol Mars to launch mainnet January 22, 2023
  • Central African Republic eyes legal framework for crypto adoption January 22, 2023

News Categories

  • Bitcoin
  • Blockchain
  • Business
  • Market

Tags

bitcoinMagzine Cointelegraph Cryptocurrency insidebitcoins Investment Mining Bitcoin NewsBTC

Quicklinks

  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us

© 2022 Xbt.Market - Powered by YYC Tech Consulting & ADMCO.

No Result
View All Result
  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us

© 2022 Xbt.Market by Nebulome.

  • bitcoinBitcoin(BTC)$22,894.00-1.07%
  • ethereumEthereum(ETH)$1,634.73-0.76%
  • USDEXUSDEX(USDEX)$1.07-0.53%
  • tetherTether(USDT)$1.00-0.10%
  • binancecoinBNB(BNB)$328.050.39%
  • usd-coinUSD Coin(USDC)$1.00-0.13%
  • rippleXRP(XRP)$0.397987-1.52%
  • Binance USDBinance USD(BUSD)$1.000.25%
  • cardanoCardano(ADA)$0.3922520.03%
  • dogecoinDogecoin(DOGE)$0.092211-0.31%
  • OKBOKB(OKB)$44.153.02%
  • matic-networkPolygon(MATIC)$1.210.62%
  • SolanaSolana(SOL)$23.32-1.23%
  • Shiba InuShiba Inu(SHIB)$0.0000151.31%
  • Lido Staked EtherLido Staked Ether(STETH)$1,630.67-0.74%
  • polkadotPolkadot(DOT)$6.710.75%
  • litecoinLitecoin(LTC)$96.57-0.17%
  • AvalancheAvalanche(AVAX)$20.11-0.74%
  • tronTRON(TRX)$0.063555-1.05%
  • UniswapUniswap(UNI)$6.83-2.50%
  • daiDai(DAI)$1.00-0.05%
  • cosmosCosmos Hub(ATOM)$14.411.18%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$22,839.00-1.18%
  • chainlinkChainlink(LINK)$6.98-0.24%
  • ToncoinToncoin(TON)$2.27-2.46%
  • leo-tokenLEO Token(LEO)$3.44-1.17%
  • ethereum-classicEthereum Classic(ETC)$22.70-1.11%
  • moneroMonero(XMR)$166.97-1.75%
  • bitcoin-cashBitcoin Cash(BCH)$133.59-0.62%
  • Aerarium FiAerarium Fi(AERA)$7.14-13.09%
  • AptosAptos(APT)$15.05-3.51%
  • stellarStellar(XLM)$0.091057-0.34%
  • ApeCoinApeCoin(APE)$5.740.98%
  • QuantQuant(QNT)$140.750.79%
  • CronosCronos(CRO)$0.080824-1.02%
  • NEAR ProtocolNEAR Protocol(NEAR)$2.38-1.46%
  • filecoinFilecoin(FIL)$5.27-0.65%
  • algorandAlgorand(ALGO)$0.258623-0.38%
  • HederaHedera(HBAR)$0.069666-0.72%
  • Lido DAOLido DAO(LDO)$2.165.85%
  • vechainVeChain(VET)$0.024047-0.56%
  • Internet ComputerInternet Computer(ICP)$5.57-1.55%
  • FantomFantom(FTM)$0.56-3.67%
  • decentralandDecentraland(MANA)$0.73-2.16%
  • The SandboxThe Sandbox(SAND)$0.73-1.84%
  • Axie InfinityAxie Infinity(AXS)$10.94-0.56%
  • AaveAave(AAVE)$86.451.16%
  • The GraphThe Graph(GRT)$0.13257516.12%
  • eosEOS(EOS)$1.08-0.47%
  • FlowFlow(FLOW)$1.120.80%
  • Terra Luna ClassicTerra Luna Classic(LUNC)$0.0001883.86%
  • MultiversXMultiversX(EGLD)$44.93-0.40%
  • theta-tokenTheta Network(THETA)$1.09-0.89%
  • tezosTezos(XTZ)$1.17-1.02%
  • FraxFrax(FRAX)$1.000.09%
  • true-usdTrueUSD(TUSD)$1.00-0.06%
  • huobi-tokenHuobi(HT)$5.570.45%
  • paxos-standardPax Dollar(USDP)$1.00-0.33%
  • bitcoin-cash-svBitcoin SV(BSV)$43.831.44%
  • kucoin-sharesKuCoin(KCS)$8.63-1.14%
  • havvenSynthetix Network(SNX)$2.59-1.78%
  • Frax ShareFrax Share(FXS)$11.008.73%
  • Curve DAOCurve DAO(CRV)$1.072.14%
  • Rocket PoolRocket Pool(RPL)$39.521.54%
  • ChilizChiliz(CHZ)$0.1403830.20%
  • PancakeSwapPancakeSwap(CAKE)$4.501.20%
  • ImmutableXImmutableX(IMX)$0.914.85%
  • USDDUSDD(USDD)$0.99-0.14%
  • eCasheCash(XEC)$0.000037-0.46%
  • BitTorrentBitTorrent(BTT)$0.000001-1.43%
  • dashDash(DASH)$62.575.04%
  • iotaIOTA(MIOTA)$0.2460501.35%
  • BitDAOBitDAO(BIT)$0.571.10%
  • Trust WalletTrust Wallet(TWT)$1.60-1.73%
  • Mina ProtocolMina Protocol(MINA)$0.78-1.60%
  • KlaytnKlaytn(KLAY)$0.205872-0.84%
  • OptimismOptimism(OP)$2.932.59%
  • makerMaker(MKR)$693.190.83%
  • GateGate(GT)$4.29-3.80%
  • neoNEO(NEO)$8.720.09%
  • cUSDCcUSDC(CUSDC)$0.0227450.05%
  • ArweaveArweave(AR)$11.470.60%
  • gemini-dollarGemini Dollar(GUSD)$1.00-0.31%
  • GMXGMX(GMX)$67.563.67%
  • OKCOKC(OKT)$31.740.48%
  • zcashZcash(ZEC)$44.02-1.73%
  • cDAIcDAI(CDAI)$0.0221631.28%
  • RenderRender(RNDR)$1.877.45%
  • THORChainTHORChain(RUNE)$1.811.07%
  • RadixRadix(XRD)$0.053865-8.38%
  • Tokenize XchangeTokenize Xchange(TKX)$6.68-1.13%
  • OsmosisOsmosis(OSMO)$1.01-0.75%
  • WhiteBIT TokenWhiteBIT Token(WBT)$4.10-0.39%
  • singularitynetSingularityNET(AGIX)$0.4315202.17%
  • PAX GoldPAX Gold(PAXG)$1,871.090.57%
  • enjincoinEnjin Coin(ENJ)$0.4716111.54%
  • loopringLoopring(LRC)$0.373621-1.32%
  • Baby Doge CoinBaby Doge Coin(BABYDOGE)$0.00000013.38%
  • Convex FinanceConvex Finance(CVX)$6.25-0.76%
  • zilliqaZilliqa(ZIL)$0.028702-0.34%