Price action, technicals, and flow across crypto and equities.
Perpetual futures account for over 75% of crypto derivatives volume. They have no expiry, use a funding rate to anchor to spot,…
Spot Bitcoin ETFs hold actual BTC in custody. Futures ETFs hold rolling CME contracts. The basis between them costs investors 4-8% a…
BTC perpetual funding flipped positive on Binance, OKX, and Bybit for the first time in 23 days, but dealer gamma above $100k…
The 2s10s flattened 12bp on Tuesday's $42bn 7-year auction, with the long end leading. Term premium is back negative for the first…
BTC closed Tuesday at $101,840 after $487m of net spot-ETF inflows, the eighth consecutive net-positive session led by IBIT and FBTC. The…