Posted 11/28/2023, 12:32:00 PM
Rare Futures Market Signals Point to Renewed Bullish Sentiment for Bitcoin and Ethereum
- Rare contango pattern emerged in CME's BTC and ETH futures last week, indicating bullish sentiment and desire to go long
- Futures prices for next month contracts traded substantially higher than front month, a rare occurrence since 2018
- Signals traders strongly anticipating price rises and adding leveraged long positions
- Mainly stems from traditional finance players taking bullish bets via futures rather than spot
- Could renew interest in basis trade arbitrage to profit from elevated premiums