Deribit Bitcoin Futures Update

Deribit-listed Bitcoin (BTC) futures expiring this Friday are trading slightly below the exchange’s index price, indicating weak demand for the cryptocurrency.

> “What we have seen is that near-tenor (7d and shorter) yields have dipped into negative territory for the first time in over a year,” said Andrew Melville, a research analyst at Block Scholes, during a chat with CoinDesk on Telegram. “This means that futures prices are trading below spot, which we take as a significantly bearish indicator.”

Deribit remains the world’s leading crypto options exchange and is favored by sophisticated traders employing synthetic strategies involving futures, options, and spot markets.

(Deribit)