Bitcoin Futures on Deribit Drop Below Spot Price, Reflecting Weak Demand
Bitcoin (BTC) futures expiring this Friday on Deribit have slipped into a discount relative to the exchange’s index price, signaling soft demand and a cautious market outlook.
“For the first time in over a year, short-term yields (7-day and shorter) have dipped into negative territory,” Andrew Melville, a research analyst at Block Scholes, told CoinDesk via Telegram. “This indicates that futures prices are lagging behind spot, which we view as a strong bearish signal.”
Deribit, the leading crypto options exchange, is widely used by professional traders for executing complex strategies across futures, options, and spot markets.
The discounted pricing on short-term futures suggests that traders are hesitant to take bullish positions, reinforcing uncertainty about Bitcoin’s near-term trajectory.
