Weak Demand Pushes Bitcoin Short-Term Futures Into Discount on Deribit

Bitcoin Futures on Deribit Trade at a Discount, Hinting at Weak Market Sentiment

Bitcoin (BTC) futures expiring this Friday on Deribit have slipped below the exchange’s index price, signaling weak demand for the cryptocurrency.

“For the first time in over a year, short-term yields (7-day and under) have turned negative,” said Andrew Melville, a research analyst at Block Scholes, in a Telegram message to CoinDesk. “This suggests that futures prices are now lower than spot prices, which we view as a strong bearish indicator.”

As the world’s largest crypto options exchange, Deribit is a key venue for professional traders who utilize advanced trading strategies involving futures, options, and spot markets.

The discount on short-term futures suggests cautious sentiment among traders, reflecting uncertainty about Bitcoin’s near-term price trajectory.