US EditionSpot Buying Propels Bitcoin Higher amid Cooling Speculation
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Spot Buying Propels Bitcoin Higher amid Cooling Speculation
Bitcoin changed hands at US $106,639, less than 2 percent shy of December’s all-time high. Daily turnover on Coinbase, Binance and LMAX Digital reached US $10.9 billion, 12 percent above the 30-day average, yet perpetual-swap funding on the same venues hovered around 0 percent. Futures open interest is a record US $34 billion, but the cost of holding those contracts is negligible—evidence that cash buyers, not leverage, are driving price discove…
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