Future

2024

Solana

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<ul>
 <li>The profitability of bitcoin futures declines from 10% to 6%, which prompts traders to look for better chances in the market.</li>
 <li>Analysts forecast a correction in the price of bitcoin, arguing that a new price range may pique interest and influence trade.</li>
 <li>Renowned analyst Checkmate observes declining profits in deals involving Bitcoin futures, indicating a possible change in the market.</li>
</ul>
<p><a href="https://cryptonewsland.com/bitcoin-btc-selling-pressure-ethereum-eth-dips-below-3k-furrever-token-furr-spreads-joy/" target="_blank" rel="noopener noreferrer nofollow">Selling pressure on the Bitcoin</a> (BTC) market has been building. As a result, there is likewise less energy in the futures market. There isn’t much profit left for traders to squeeze out of the <a href="https://cryptonewsland.com/how-to-leverage-bitcoin-futures-market-signals-for-profitable-trades/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin futures</a> cash-and-carry trade because of its falling profitability.</p>
<h3 class="wp-block-heading" id="h-the-decrease-in-cash-and-carry-bitcoin-transactions"><strong>The decrease in Cash-and-Carry Bitcoin Transactions</strong></h3>
<p>Trades involving cash and carry are common in the derivatives market. Using this method, the asset is purchased on the spot market and concurrently sold on the futures market. In cash-and-carry transactions, <a href="https://www.forbes.com/advisor/investing/cryptocurrency/what-are-bitcoin-futures/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin futures</a> traders could lock in an almost risk-free annualized premium of 10% just a few weeks ago. This premium was the annualized difference between the spot price of bitcoin and the bitcoin futures.</p>
<p>However, traders need capital to hold Bitcoin and margin alongside the futures contracts, effectively reducing the returns to 5%. Interestingly, this annualized premium has now dropped to 6%, or technically 3% considering the margin costs for holding in the spot markets. If the annualized returns for the Bitcoin cash-and-carry trade fall under the risk-free return, the trade becomes less attractive.</p>
<h3 class="wp-block-heading" id="h-market-sentiment-and-future-price-movement"><strong>Market Sentiment and Future Price Movement</strong></h3>
<p>Popular crypto analyst Checkmate notes that the profitability in Bitcoin futures trades is no longer attractive. He stated, “There’s no juice left to squeeze.” Thus, Bitcoin traders might start seeking other alternatives. Trading Bitcoin futures cash-and-carry is now more risky than rewarding.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">The <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> futures cash-and-carry trade is very likely reaching the end of the juice left to squeeze.<br><br>A few weeks ago, traders could lock in an almost risk-free 10% annualised premium by being long spot, short futures. Technically this is ~5% as you need capital on both sides.… <a href="https://t.co/2TirvMW07t" rel="noopener noreferrer nofollow">https://t.co/2TirvMW07t</a> <a href="https://t.co/sj1jTUBgST" rel="noopener noreferrer nofollow">pic.twitter.com/sj1jTUBgST</a></p>— _Checkmate <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f7e0.png" alt="🟠" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f511.png" alt="🔑" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/26a1.png" alt="⚡" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2622.png" alt="☢" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6e2.png" alt="🛢" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@_Checkmatey_) <a href="https://twitter.com/_Checkmatey_/status/1805031656694382735?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 24, 2024</a>
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<p>Also, since <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin’s price</a> has dropped over 12% from its June highs, experts believe it will soon hit around $60,000. Bitcoin analyst Checkmate stated that the BTC sell-side risk ratio has reached levels suggesting a major shift is imminent. “All the profits that were going to be taken, have been. Same for losses,” he explained.</p>
<p>Checkmate added that the <a href="https://cryptonewsland.com/bitcoin-market-insight-volatility-and-regulatory-landscape-shape-the-game/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin market</a> would establish a new price range, igniting emotions such as fear, greed, panic, or euphoria. These emotions will drive the next phase of the market movement. As traders adjust to these new conditions, the market dynamics will shift, potentially leading to new trading strategies and opportunities.</p>
<h4 class="wp-block-heading" id="h-read-also">Read also:</h4>
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/binance-moves-next-piece-in-regulation-game-to-prevent-checkmate/" rel="noopener noreferrer nofollow">Binance Moves Next Piece in Regulation Game To Prevent Checkmate</a></li>
 <li><a href="https://cryptonewsland.com/bitcoin-ethereum-and-solana-outshine-traditional-assets-in-annualized-returns/" rel="noopener noreferrer nofollow">Bitcoin, Ethereum, and Solana Outshine Traditional Assets in Annualized Returns</a></li>
 <li><a href="https://cryptonewsland.com/cryptoquant-explores-recent-changes-in-the-bitcoin-landscape/" rel="noopener noreferrer nofollow">CryptoQuant Explores Recent Changes in the Bitcoin Landscape</a></li>
 <li><a href="https://cryptonewsland.com/bitcoins-boring-sideways-movement-around-30000/" rel="noopener noreferrer nofollow">Bitcoin’s Boring Sideways Movement Around $30,000, Lower Pool in Sight</a></li>
 <li><a href="https://cryptonewsland.com/how-to-leverage-bitcoin-futures-market-signals-for-profitable-trades/" rel="noopener noreferrer nofollow">How to Leverage Bitcoin Futures Market Signals for Profitable Trades</a></li>
</ul>
<p>The post <a href="https://cryptonewsland.com/crypto-expert-foresees-big-changes-in-bitcoins-price-trend/" rel="noopener noreferrer nofollow">Crypto Expert Foresees Big Changes in Bitcoin’s Price Trend</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Crypto Expert Foresees Big Changes in Bitcoin’s Price Trend

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