The Bitcoin spot demand on Binance is picking up against future volume.
This doesn’t mean that spot demand is dominating, but rather that the average spot-to-futures ratio has been exceeded, reaching a much higher level than usual today.
💡 Since 2019, the spot/futures volume ratio on Binance has averaged around 0.22, meaning that for every $1 invested in spot, more than $4 went into futures.
This recent shift can be explained by two key factors :
📈 Rising spot demand on Binance
📉 Declining futures volumes
Overall, this is a very positive signal: when a market is supported more by spot demand than derivatives speculation, bullish trends tend to last longer, as seen in early and late 2023.
Written by Darkfost
