According to a report by Cointelegraph on January TechFlow, Bitcoin prices rose above $90,000, reaching a near three-week high. However, fund flows in derivatives and spot ETFs indicate that traders remain cautious, suggesting limited market confidence in further price increases. Data shows that despite the price rebound, demand for leveraged long positions in Bitcoin remains stable, and the Bitcoin futures basis is below the neutral threshold, currently at an annualized premium of 4%. Since December 15th, Bitcoin spot ETFs have recorded net outflows exceeding $900 million. Furthermore, Bitcoin put options traded at a premium on Saturday, indicating increased demand from professional traders for downside protection.
Analysis: BTC has returned to $90,000, but bullish demand remains relatively stable, suggesting limited market confidence in further gains.
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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