TechFlow, September 18 — According to CryptoQuant data, analyst Axel Adler Jr. stated that BTC futures are trading at a premium to spot, with the basis persistently positive and the 7-day basis higher than the 30-day basis, indicating a bullish structure. Overheating/divergence signals have emerged ahead of the Federal Reserve meeting, and the short-term overheating phenomenon (basis rising on low volume) suggests this rally has entered its later stages.
The analyst noted there is approximately a 70% probability of a stepwise upward or sideways movement over the next two weeks. If in the coming days a cluster of green trend confirmation signals appears (price increase + rising basis + increasing open interest), it would indicate new long-side participation and raise the likelihood of reaching a new all-time high.
