To further prove that the crypto market structure has deteriorated, traders should analyze the CME's Bitcoin futures contracts premium. The metric compares longer-term futures contracts and the traditional spot market price. These fixed-calendar contracts usually trade at a slight premium, indicating that sellers request more money to withhold settlement for longer. As a result, the one-month futures should trade at a 0.5% to 1% premium in healthy markets, a situation known as contango. ...
