Btc & eth bullish

Finalizing the base indicator is very useful as it compares the level of futures contracts with the current price on spot (regular) exchanges. Healthy markets usually have an annualized base of 5% to 10%, this situation is known as contango. On the other hand, trading futures contras at a discount usually occurs during strongly bearish markets. The basis of the Ether futures has oscillated between 10% and 20%, therefore we can deduce that there are bullish expectations. Rather than leaving their Ether holdings on a derivatives exchange, the seller preferred to use them for staking. Therefore, it is natural to demand a premium for the operation.

The BTC futures premium has performed similarly, despite today's negative performance. If traders had given up on expectations of a continued bull run, this indicator would have sunk below 10% annualized. There is only one reason for a trader to pay such an expensive premium on a futures contract, and that reason is bullishness. This indicator can be interpreted as a tax to maintain leveraged long positions.

The 25% slope of the delta also provides useful information on sentiment and posture for professional traders. A delta sloping to + 25% indicates that put options are more expensive than similar call options, indicating bearish sentiment. On the other hand, if it is inclined to -25% it suggests an uptrend.

This data suggests that options traders are unwilling to sell upside protection. At -20%, the slope indicator indicates that derivatives investors remain bullish despite the 28% rally of the past seven days. We should expect BTC options traders to be a bit less bullish after today's negative performance, but that has not been the case.