Analyst: Bitcoin futures point to bullish trend in spring 2024
Binance has a significant premium of over $2,000 on Bitcoin futures contracts expiring at the end of March. According to the analyst, this indicates the expectation of an increase in the price of Bitcoin this spring.
When futures contracts trade at a higher price than the spot price, it is called “contango.” This situation suggests that the market expects the price of the asset to increase before the expiration of the futures contract (in this case, March 29).
Ruslan Lienkha, head of markets at YouHodler, called the current contango a clear bullish indicator for Bitcoin:
