Bitcoin and Altcoins Rise with Spot Market: Losses on Futures Side are Catastrophic!

Financial services platform Matrixport drew attention with its current report on Bitcoin.

Matrixport shared important data on Bitcoin's recent 10% rise. According to the analysis, unlike the volumes in the futures market, Bitcoin's rally was mainly supported by direct purchases made in the spot market.

Despite the rise Bitcoin experienced last week, analysts reported that the financing rate in the futures market continued to be negative, and that this situation was supported by direct Bitcoin purchases rather than futures positions.

It was emphasized that purchases made in the spot market, not particularly leveraged transactions, pushed the price up.

Bitcoin can be saved if it continues like this

According to the report presented, if prices continue to rise, futures traders may also enter into bull market expectations and in this case, the financing rate may turn positive.

It was stated that this could trigger further price increases. However, it has been reported that fast-moving futures investors are not yet expecting a breakout.

However, according to analysts, the steady increase in purchases in the spot market may cause futures market players to change their attitudes and enter into bull market expectations.

This data provided by Matrixport indicates that the effects of movements in the spot market on the Bitcoin price are becoming more and more decisive and that the market may find direction with spot purchases rather than futures in the coming days.