Bitcoin (BTC) surged to a 45-day high above $91,000 on April 22, and the upward movement coincided with gold reaching a new all-time high. The price gains reflect investors’ concerns over a potential economic recession amid ongoing global trade tensions.
The tides are shifting, but does data support a Bitcoin price rally above $95,000?
Bitcoin 2-month futures annualized premium. Source: Laevitas.ch
In neutral markets, the Bitcoin futures premium typically ranges between 5% and 10% to compensate for the longer settlement period. At present, the annualized premium stands at 6%, which is not considered particularly bullish, even though BTC appreciated by $6,840 between April 20 and April 22. Some analysts interpret this as a sign that Bitcoin is beginning to decouple from the stock market.
Traders’ PTSD could emerge around BTC’s $90K zone
Part of this skepticism among traders stems from Bitcoin’s repeated inability to sustain