After the $BTC rally, the spot premium has significantly increased, but it hasn't quite reached the height I was hoping for. I was actually expecting a new premium high here...

The upward movement of the spot premium can usually be attributed to two reasons:

One is driven by large-scale spot buying, and the other is due to significant short selling in the futures market.

From 98k to 112k, with each rally, the premium has risen in sync, but subsequently, it has consistently trended lower on a larger scale...

This actually gives me a bit of a bad feeling. The urgent task is to see a massive influx of buying in the USD spot market, bringing out a higher high in the premium level to end this large-scale divergence between spot and futures.

Otherwise, if the price continues to fluctuate upwards and the premium resumes its slow decline, I might have to prepare to go bearish...

In short, let's wait a bit longer!