Traders Retreat as Uncertainty Rises

[etfs]

Bitcoin 3-month futures annualized basis rate. Source: Laevitas.ch

Economic uncertainty, a delayed U.S. jobs report, and weakness in the housing market are pushing traders out of Bitcoin. BTC slipped to ~$90,000 after failing to break $92,250, with futures premiums staying below the neutral 5% level for two weeks — a clear sign of weak bullish leverage.

[Rimon Khan]

Classic risk-off behavior — traders hate unclear direction.

[Abdul Khan]

Better to wait than force trades in this environment.