Analysis: True market panic has not yet occurred for BTC
PANews, February 10—According to CoinDesk, Greg Magadini, Head of Derivatives at Amberdata, stated that although BTC has recently rebounded from around $60,000 to nearly $70,000, futures market data shows that there has not yet been any real market panic.
Currently, the 90-day bitcoin futures contracts are still trading at about a 4% premium compared to spot prices, whereas historically, significant discounts have appeared at bear market bottoms—for example, at the bottom of the 2022 bear market, the discount reached 9%. Magadini believes that if historical patterns hold, BTC may still have further downside potential before panic selling emerges in the futures market.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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