Analysts stressed that we are seeing a weakening of institutional investor interest in products targeting BTC and other cryptocurrencies. Futures are traded at a discount to current spot prices. This market situation is seen as a clear bearish signal.
Binance, OKEx and ByBit are among the top three most popular exchanges among institutions. They account for 22.5%, 14% and 12.9% of the total open interest in Bitcoin futures.
Two Prime top manager Nathan Cox agreed with the findings of colleagues from Arcane Research. He predicted that if BTC depreciated in June and July, then the demand for products representing the crypto-derivatives market would renew the minimum.
At the same time, there is a weakening of activity in the spot market.
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