According to DL News, Alex Blume, CEO of investment advisory firm Two Prime, diagnosed that the impact of 'basis trade,' which has been pressuring the Bitcoin market, has largely dissipated. He added, "The reduction in futures positions indicates that this strategy has virtually entered its final stage. Concurrently, MicroStrategy (MSTR) is accumulating approximately $60 billion worth of BTC, emerging as a key buying entity. When directional funds flow in, prices tend to react accordingly. The current market structure, with continuous accumulation by large buyers and the exit of funds from hedge profit strategies, is unusual." Basis trade is a strategy that utilizes the price difference between spot and futures, structured to secure a premium by buying spot (IBIT in this product) and short-selling futures.
