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Bitcoin Short-Term Futures Slip Into Discount on Deribit in Sign of Weak Demand
Futures expiring on Friday have slipped into a discount, reflecting demand weakness.
Mar 10, 2025, 5:18 p.m.
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What to know:
- Bitcoin futures expiring on Friday are trading below Deribit's index price.
- The discount is a sign of weak demand for the cryptocurrency.
- "Futures prices are trading below spot, which we take as a significantly bearish indicator,” said Andrew Melville, a research analyst at Block Scholes
Deribit-listed bitcoin (BTC) futures set to expire this Friday now trade marginally below the exchange’s index price, flashing a discount in a sign of weak demand for the cryptocurrency.
“What we have seen is that near-tenor (7d and shorter) yields have dipped to the negative for the first time in over a year,” Andrew Melville, a research analyst at Block Scholes told CoinDesk in a Telegram chat. “This means that futures prices are trading below spot, which we take as a significantly bearish indicator.”
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Deribit is the world’s leading crypto options exchange and a preferred venue for sophisticated traders looking to employ synthetic strategies involving futures, options and spot markets.
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