Bitcoin Futures Premium Hits 3-Month Low Despite Strong ETF Inflows
The premium on Bitcoin futures contracts has fallen to its lowest level in three months, even as spot Bitcoin ETFs continue to see significant inflows. This divergence suggests growing caution among derivatives traders despite Bitcoin trading just 8% below its all-time high.
Market Sentiment Shifts in Derivatives Trading
Bitcoin options metrics have turned bearish, with the options skew currently at 5% – indicating neutral-to-bearish sentiment. This marks a notable shift from June 9 when the indicator briefly touched a bullish -5% level following Bitcoin’s price surge.
Institutional Activity Remains Robust
U.S.-listed Bitcoin spot ETFs recorded $5.14 billion in net inflows during the 30 days ending June 18. Major firms including MicroStrategy and Metaplanet have continued accumulating Bitcoin, demonstrating sustained institutional interest.
Key Support Level Under Scrutiny
The weakening derivatives market reflects trader skepticism about Bitcoin maintaining support at the $100,000 psychological level. Extended consolidation near this price point could embolden bearish positions.
Market Outlook
Market participants await clearer signals, whether from macroeconomic developments or cryptocurrency-specific factors, that could renew trader confidence in Bitcoin’s upward potential.
