To sabi whether Bitcoin investors don turn bearish, pesin suppose analyze the BTC futures premium, wey dem still dey call basis rate.
Professional traders dey prefer monthly contracts sake of say dem no dey pay funding rate. For markets wey dey neutral, these instruments dey trade at premium of 5% to 10% to take cover for their extended settlement period.
Data show say di BTC futures premium don stabilize for 9%, wey dey under di neutral threshold — as e no dey bullish like before wey e last reach Jan. 12.
Even though e no reach di bearish level wey go need annualized premium wey dey below 5%, e don clear say Bitcoin investors no dey expect say di price go increase for short term.
Person fit no ever sabi wetin exactly cause di correction wey carry di price go $41,690, and e fit even relate to BlackRocks CEO Larry Fink wey call di spot ETF mere stepping stone to tokenization of real-world assets, wey no dey beneficial for BTC price for short term.
Don't worry yourself too much, all you have to know is that the market in volatile as it rose so it drops, the market has always not maintained a trend and this has been happening even before the BlackRock and ETF saga.
The issue be that people they always try attribute things to the rise or fall of Bitcoin.
For me the current drop is actually an opportunity for people to accumulate more Bitcoin. Although this is not a business advice I believe the price of Bitcoin would soar this year.