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BTC futures basis yield has climbed to a seven-month high
PANews reported on November 12th that the BTC futures basis yield has climbed to a seven-month high, and QCP Capital analysts believe this may indicate an increase in market leverage risk. The current market has a strong demand for bullish options with high exercise prices, indicating investors' optimism for further pump in the future. Analysts pointed out that the funding rate of Perptual Futures has significantly increased, with the basis exceeding 18% by the end of November, and the BTC price approaching the key level of $90,000. QCP analysts cautioned that the high basis yield may be accompanied by leveraged Close Position risks, and if the price action is unfavorable, it may trigger a market pullback. In addition, Philipp Pieper, co-founder of Swarm Markets, said that the recent BTCpump is partly due to the re-entry of cautious capital into the market, but the Fluctuation of market sentiment may lead to mid-term profit taking and bring about price Fluctuation.