Glassnode: The Bitcoin futures basis shows characteristics of a cyclical bottom, remaining consistently below the 2-year U.S. Treasury yield
Cryptocurrency analysis firm Glassnode stated that since February of this year, the 3-month Bitcoin futures basis yield has been below the 2-year U.S. Treasury yield. Historically, there has only been one similar prolonged period: from August 2022 to January 2023, which ultimately marked the cycle bottom.
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