The premium on Bitcoin CME futures has dropped to 4.3%, indicating waning institutional interest. Funding rates are negative, and Bitcoin is trading around 107,700 USD, reflecting a cautious market as hedge funds retreat from arbitrage positions.
On-chain analysis shows varied sentiments from Bitcoin whales, with some locking profits while others are incurring losses. This mixed outlook, combined with negative funding rates, creates a challenging environment for future price movements.
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