Odaily reports that due to the longer settlement period, the trading price of BTC futures monthly contracts is usually higher than the spot market. Currently, the 11% annualized premium is above the 5% to 10% neutral range, reflecting that market participants remain relatively optimistic. Similarly, the funding rate of the perpetual BTC contract favored by retail traders remains positive, indicating a neutral to positive market sentiment. Laevitas data shows that the demand for short positions increased yesterday, and the financing rate briefly turned negative, but the indicator quickly returned to normal, indicating that there is no persistent bearish sentiment in the BTC futures market. Analysts believe that traders must consider the risks associated with a potential global economic slowdown, as uncertainty prompts investors to shift to cash positions. Regardless of the measures taken by Trump, the fiscal outlook for the US in 2025 may still be challenging, and the risk of a recession remains, which could dampen short-term interest in , as investors prioritize safety over perceived risk assets. (Cointelegraph)