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A low Bitcoin spot premium, not seen since the FTX crash, signals potential price growth, according to crypto analyst Wise Advice.
The self-proclaimed top Asian crypto influencer points to the BTC Open Interest (OI) weighted spot premium as a key indicator. This metric reflects the price difference between the BTC spot market and the futures market, and currently shows the spot price exceeding that of futures.
Wise Advice sees this as a positive sign, as it indicates accumulation by investors. Large-scale purchases, such as Michael Saylorās reported $2 billion Bitcoin purchase and other institutional investments, might also be influencing the premium.
Looking at a BTC/USDT chart on Binance-Futures, which includes an āAggregated Premiumā indicator, Wise Advice observed that positive premiums usually align with price increases. The chart shows a significant uptrend in BTC/USDT from mid-2023, peaking in early 2ā¦
The post Analyst Predicts Bitcoin Surge as Spot Premium Drops appeared first on Coin Edition.
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