bullish

Bitcoin

Drops

Spot

Coin

<ul class="news-points wp-block-list" "wp-block-list"> 
 <li>Wise Advice suggests a bullish move for Bitcoin, highlighting the BTC Open Interest weighted spot premium.</li> 
 <li>Positive premiums on the BTC/USDT chart indicate potential price increases.</li> 
 <li>Current market trends suggest Bitcoin may enter a parabolic phase.</li> 
</ul> 
A low Bitcoin spot premium, not seen since the FTX crash, signals potential price growth, according to crypto analyst Wise Advice. 
The self-proclaimed top Asian crypto influencer points to the BTC Open Interest (OI) weighted spot premium as a key indicator. This metric reflects the price difference between the BTC spot market and the futures market, and currently shows the spot price exceeding that of futures. 
Wise Advice sees this as a positive sign, as it indicates accumulation by investors. Large-scale purchases, such as Michael Saylor’s reported $2 billion Bitcoin purchase and other institutional investments, might also be influencing the premium. 
Looking at a BTC/USDT <a href="https://x.com/wiseadvicesumit/status/1825962412991983780" target="_blank" rel="nofollow">chart</a> on Binance-Futures, which includes an “Aggregated Premium” indicator, Wise Advice observed that positive premiums usually align with price increases. The chart shows a significant uptrend in BTC/USDT from mid-2023, peaking in early 2…
The post <a href="https://coinedition.com/analyst-predicts-bitcoin-surge-as-spot-premium-drops/">Analyst Predicts Bitcoin Surge as Spot Premium Drops</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Analyst Predicts Bitcoin Surge as Spot Premium Drops

Coin Edition

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