Key Information:

• Bitcoin futures that are due to expire this Friday are trading at a lower price compared to Deribit’s index rate.
• This discount is indicative of reduced demand for Bitcoin.
• “Futures prices are trading below spot, which we see as a notably bearish signal,” said Andrew Melville, a research analyst at Block Scholes.

Deribit is the largest crypto options exchange globally, favored by traders utilizing advanced strategies across futures, options, and spot markets.