BTC Returns Above $90,000, Touching Near Three-Week High, But Market Confidence in Further Gains Remains Limited

Odaily News Bitcoin's price rose above $90,000 today, reaching a near three-week high. However, fund flows from derivatives and spot ETFs indicate traders remain cautious, suggesting limited market confidence in further price appreciation. Data shows that despite the price rebound, demand for leveraged long positions in Bitcoin has remained flat. The Bitcoin futures basis rate is below the neutral threshold, with the current annualized premium at 4%. Since December 15th, Bitcoin spot ETFs have recorded net outflows exceeding $900 million. Additionally, Bitcoin put options traded at a premium on Saturday, indicating increased demand for downside protection among professional traders. (Cointelegraph)