According to Odaily, Ki Young Ju, the founder of CryptoQuant, has recently stated that Bitcoin whales can still find alpha in the futures market before it becomes spot-driven. Currently, smaller-scale whales are establishing long positions.
Despite the market's transition towards being spot-driven, the futures market remains a viable avenue for Bitcoin whales to find alpha. This suggests that the futures market continues to offer profitable opportunities for investors, particularly those with substantial holdings in Bitcoin.
Ki Young Ju's comments highlight the ongoing activity of smaller-scale Bitcoin whales in the futures market. These investors are reportedly establishing long positions, indicating a bullish outlook on the future value of Bitcoin. This activity could potentially influence the overall market dynamics, given the significant impact that Bitcoin whales can have on price movements.
In conclusion, while the market is gradually becoming spot-driven, Bitcoin whales, especially those of smaller scale, are still finding alpha in the futures market. This trend underscores the continued relevance of the futures market in the broader cryptocurrency investment landscape.