$BTC is up this much—Coinbase’s premium index has actually stayed negative for 20 straight days, suggesting that large-scale U.S. buyers still haven’t entered the market?
In other words, the rally above 80,000 is due to U.S. spot funding being absent; it’s being pushed forward mainly by offshore flows and derivatives. So I think these past two days are essentially “pulling in the car” (picking up incoming liquidity), and the upward trend hasn’t ended yet.
Today is the futures expiry date, so I’ll wait and observe. As I said a couple of days ago: if you don’t have a position, it’s recommended to top up to add another 30% of your intended position size.
In other words, the rally above 80,000 is due to U.S. spot funding being absent; it’s being pushed forward mainly by offshore flows and derivatives. So I think these past two days are essentially “pulling in the car” (picking up incoming liquidity), and the upward trend hasn’t ended yet.
Today is the futures expiry date, so I’ll wait and observe. As I said a couple of days ago: if you don’t have a position, it’s recommended to top up to add another 30% of your intended position size.
