Fabio Amaya
--
$BTC Bitcoin (BTC) recovered the $108,000 mark on Monday after testing the $104,000 support level over the weekend. The gains came as a conflict erupted in the Middle East and investors lowered their expectations for interest rate cuts in the United States, indicating greater confidence in Bitcoin's upside potential.
Trader sentiment remained stable despite worsening socioeconomic prospects, as evidenced by Bitcoin's derivatives metrics.
The Bitcoin futures premium reached 5% on Monday, the baseline level for neutral markets. These monthly contracts typically trade with a premium between 5% and 10% to compensate for the longer settlement period. Although it is below the 8% recorded at the end of May, there was little reaction during the test of $101,000 on June 5, indicating market resilience.
Spot Bitcoin exchange-traded funds (ETFs) listed in the U.S. recorded net inflows of $301,700,000 on Friday, and the announcement from Strategy regarding an additional purchase of $1,050,000,000 on Monday helped alleviate traders' concerns about a potential economic recession and the adverse effects of the conflict involving Iran, one of the world's largest oil producers.
Trader sentiment remained stable despite worsening socioeconomic prospects, as evidenced by Bitcoin's derivatives metrics.
The Bitcoin futures premium reached 5% on Monday, the baseline level for neutral markets. These monthly contracts typically trade with a premium between 5% and 10% to compensate for the longer settlement period. Although it is below the 8% recorded at the end of May, there was little reaction during the test of $101,000 on June 5, indicating market resilience.
Spot Bitcoin exchange-traded funds (ETFs) listed in the U.S. recorded net inflows of $301,700,000 on Friday, and the announcement from Strategy regarding an additional purchase of $1,050,000,000 on Monday helped alleviate traders' concerns about a potential economic recession and the adverse effects of the conflict involving Iran, one of the world's largest oil producers.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
10
0