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CryptoQuant Analyst: BTC futures trading price is higher than spot, indicating that the market is bullish

Source: ForesightNews
CryptoQuant analyst Axel Adler Jr tweeted, "BTC futures trading prices are higher than spot, the basis is consistently positive, and the 7-day basis is higher than the 30-day basis, indicating that the market is bullish. Before the FOMC meeting, the market experienced an overheating/divergence signal, short-term overheating (the basis rises and the volume is small), indicating that the market has entered a later stage. The basic situation for the next two weeks (~70%): gradual uptrend/sided consolidation. If a set of green trend confirmation signals (price rise + basis rise + OI rise) appears in the next few days, it indicates that new bulls are involved and the possibility of a new high is increased."
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