Bitcoin Futures Unchanged As BTC Falls Near Support
Bitcoin (BTC) fell 4% to below $115,000, marking its lowest point in two weeks, coinciding with a monthly derivatives expiry that eliminated $390 million in futures contracts. The current 7% premium in Bitcoin futures indicates no significant change in investor sentiment despite the price drop. Bitcoin reached a peak of $123,181 on July 14, but bullish momentum has not been indicated since early February. The 25% delta skew for Bitcoin options surged to 10%, reflecting temporary market stress, but quickly normalized to 1%. Traders are cautious, with no panic following the price decline. Tether (USDT) trades at a 0.5% discount in China, suggesting stable demand for cryptocurrencies despite recent price fluctuations. Concerns about global trade tensions and a potential US recession persist, but the current state of Bitcoin derivatives does not signal major issues within the crypto market.
