Bitcoin Holds Above $100K But Critical Data Bottoms! What Does It Mean for BTC?

Bitcoin (BTC) is exhibiting volatile movements ahead of the Nonfarm Payrolls data, one of the data that the FED follows when making interest rate decisions. Bitcoin, which saw above $107,000 during FED Chairman Jerome Powell's speech yesterday, fell to $105,000 afterwards. Related News: FED Chairman Jerome Powell Talks About Interest Rate Cuts and Donald Trump! "If Trump Didn't Exist..." - Bitcoin (BTC) Moved! While wondering in which direction the volatility in Bitcoin will intensify and how the price will move, 10x Research stated that the CME Bitcoin futures premium fell to 4.3%, the lowest level since October 2023. Speaking to Coindesk, 10X Research founder Markus Thielen said that the decline in the CME Bitcoin futures premium indicates weakening institutional demand. “The annualized premium for 3-month CME Bitcoin futures has fallen from 10% earlier this year to 4.3% currently. This is the lowest level since 2023.” The CME Bitcoin futures premium represents the difference between the spot price and the futures price. Stating that this decline in the CME Bitcoin futures premium came despite the BTC price holding above $ 100,000, Thielen said, “this indicates that institutional interest is decreasing, expectations for further price increases are weakening, and price uncertainty is increasing.” *This is not investment advice. Continue Reading: Bitcoin Holds Above $100K But Critical Data Bottoms! What Does It Mean for BTC?