#夏日创作营 Bitcoin is trading at a negative premium for 67 consecutive days. The active buy pressure in the U.S. spot market is still relatively weak. But strangely, BTC hasn’t continued to fall as a result, suggesting that the current price support isn’t being maintained by retail chasing the rally, but by other funds picking up the slack.



Sustained ETF inflows, large OTC trades, institutional allocation, and short covering could all be important reasons why prices are holding strong.

What’s worth paying attention to is that when Coinbase’s negative premium turns positive again, it often means risk appetite in the U.S. market is starting to pick up. At that time, the persistence of the market trend may be stronger than it is now.
BTC0.45%
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