Do discounted CME Bitcoin futures spell more doom for BTC price? noshitcoins explains how the lack of risk appetite from arbitrage desks and market makers is responsible for the pricing distortion.
) futures have been trading below Bitcoin’s spot price on regular exchanges since Nov. 9, a situation that is technically referred to as backwardation. While it does point to a bearish market structure, there are multiple factors that can cause momentary distortions.
. The group was supposedly one of the largest market makers in cryptocurrencies, so their downfall was bound to send shockwaves throughout all crypto-related markets., including Genesis, BlockFi and Galois Capital. As a result, traders should expect less arbitrage activity between CME futures and the remaining spot market exchanges.
Although this data can't be deemed bullish on a standalone basis, it does signal that professional investors' interest in Bitcoin is not going away.
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