Binance’s Spot-to-Futures Ratio Hits 1.5-Year Peak as Bitcoin Reclaims $109K
Bitcoin has reclaimed a critical price mark, briefly trading above $109,000 before settling at $108,959, reflecting a 3.5% increase in 24 hours and nearing its all-time high of $109,958. The rally indicates persistent bullish sentiment among investors. However, market metrics reveal a shift in trading behavior, particularly on Binance, where the spot-to-futures volume ratio has reached 4.9, its highest in 18 months. This suggests speculative interest in futures trading significantly exceeds direct spot buying pressure. On-chain metrics show high profitability among investors, with short-term holders seeing gains of 6.9% to 10.7%, yet no significant profit-taking or selling pressure is evident. This balanced profitability distribution indicates reduced volatility and a lower risk of sudden corrections, suggesting the market may be poised for a breakout beyond previous highs despite ongoing macroeconomic risks.
