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There was a noteworthy signal regarding the spot premium of BTC over the weekend:
During the process of the price dropping from 106k to 103k, the spot premium has shown a continuous increase, which indicates a sustained demand for spot entry and a large number of futures shorts opening positions, possibly accompanied by the liquidation of futures longs.
This situation is a standard case of spot-futures divergence, thus it indicates a short-term shorting risk!
Since the left interval has indeed been broken, it should be bearish from the perspective of the trend structure. However, the liquidity within the market is attempting to negate this structural breakdown, causing both the price and the premium to rise simultaneously.
Therefore, for the bulls, it is advisable to wait and not go long, but for the bears, one must be careful of being pulled back to a stop loss at 106.6k after shorting...