Bitcoin futures enter backwardation for the first time in a year
Risk-averse BTC derivatives traders throw in the towel after futures contracts trade below the spot market price. 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…
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