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Bitcoin futures enter backwardation for the first time in a year
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Bitcoin's (BTC) month-to-date chart is very bearish, and the sub-$18,000 level seen over the weekend was the lowest price seen since December 2020.
Bulls' current hope depends on turning $20,000 to support, but derivatives metrics tell a completely different story as professional traders are still extremely skeptical.It’s important to remember that the S&P 500 index dropped 11% in June, and even multi-billion dollar companies like Netflix, PayPal and Caesars Entertainment have corrected with 71%, 61% and 57% losses, respectively.The U.S.
Read more on cointelegraph.comAbout this in other media
ProShares to list first short bitcoin ETF on NYSE moneycontrol.com /5 days ago
First Short Bitcoin ETF in US, FATF Not Happy With VASPs, Inactivity Fee on Bitstamp + More News cryptonews.com /6 days ago
From games to piggy banks: Educating the Bitcoin ‘minors’ of the future cointelegraph.com /1 week ago
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