BTC rebounds but no market panic is seen, the futures market still shows a premium

On February 10, according to Greg Magadini, head of derivatives at Amberdata, although Bitcoin has recently rebounded from around $60,000 to nearly $70,000, the futures market data indicates that there are no real panic signals in the market.

Currently, Bitcoin's 90-day futures contracts maintain a premium of about 4% compared to spot prices. However, historically, during bear market bottoms, the futures market usually shows significant discounts. For example, at the bottom of the bear market in 2022, the futures contracts were discounted by as much as 9%.

Magadini believes that, according to historical patterns, BTC may still have further downside potential, which could trigger panic selling in the futures market, possibly signaling further declines in the market.

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