TechFlow, July 14 — CryptoQuant community analyst joaowedson posted that the current spot price of Bitcoin remains higher than the perpetual contract price, indicating the market has not yet entered a fully euphoric phase. However, this negative spread is gradually narrowing, signaling a shift in market sentiment from cautious accumulation to optimism. Historical data shows that when the spread between perpetual contracts and spot prices turns positive, Bitcoin often enters a parabolic rise driven by leverage and FOMO sentiment. The analyst believes the market is still in a preparatory stage, and a positive turn in the spread could trigger a stronger upward trend. Investors should closely monitor changes in this indicator.
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