💥Bitcoin Climbed to a 1.5-Month High
The easing of trade tensions between the US and China has created a positive atmosphere in global markets, and the cryptocurrency markets have also benefited from this development. In particular, Bitcoin gained new momentum by surpassing the $94,000 level in this optimistic environment.
CAUTIOUS STANCE IN FUTURES TRADING
Despite the optimistic sentiment in the market, investors' cautious attitude in the Bitcoin futures market stands out. Under typical market conditions, futures premiums are expected to fluctuate between 5% and 10%, but they are currently at 6% on an annual basis. This figure suggests that there may be a divergence in Bitcoin's relationship with the spot market.
MARCH TRAUMA AFFECTS INVESTOR BEHAVIOR
Bitcoin's inability to remain above $90,000 in March left a deep mark on investor psychology. The sharp drop of BTC, which approached $95,000 on March 3, to $81,464 on March 4, created a sort of "crypto PTSD" effect in the market. This situation has led investors to act more cautiously and moderately.
NO CLEAR DIRECTION
During this period when Bitcoin rose by 6.3%, the 25 delta skew indicator in the options markets is at 2%, indicating a neutral position. This shows that large investors do not have a definitive expectation that Bitcoin will rise above $95,000 in the short term.
Although Bitcoin's rise in recent weeks is noteworthy, past volatility and global economic uncertainties are causing investors to remain cautious.
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