Covering Bitcoin’s Spot And Derivatives Market Dynamics

January On-Chain Bitcoin Price Trend


The below is from a recent edition of the Deep Dive, Bitcoin Magazine’s premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now.

In today’s Daily Dive, we’re covering some visuals to illustrate bitcoin’s spot and derivatives market dynamics. We can do this by looking at two key metrics compared to price: the futures perpetual funding rate and the long-term holder net position change.

As a refresher, the futures perpetual funding rate was covered more in-depth in The Daily Dive #097 – Derivatives Market Breakdown. It’s a key rate to watch, especially when the market is overleveraged to one side with the derivatives market having more influence over the short-term price.



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