Bitcoin Futures Experience Historic Spike In Net Short Interest As BTC Nears $65,000 Support

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Bitcoinist 3w ago

Bitcoin Futures Experience Historic Spike In Net Short Interest As BTC Nears $65,000 Support - Bitcoinist

Quick Summary:

Bitcoin (BTC) futures are experiencing a surge in net short interest among leveraged funds, although this should not be mistaken for a bearish sentiment among hedge funds.

Instead, experts suggest that the increase in short interest is primarily driven by the growing popularity of a market-neutral strategy known as the basis trade.

The basis, representing the difference between spot and futures prices, was more significant from late November 2023 until mid-March 2024, averaging around 20% annualized, except for a brief decline in February.