Greg Cipolaro, the Research Director at NYDIG, a prominent US cryptocurrency asset management firm, highlighted a clear divergence within the Bitcoin market. His recent report revealed contrasting sentiments between institutional investors based in the United States and those operating internationally.
Cipolaro explained that the annualized basis rate for Bitcoin futures traded domestically remains higher than that on offshore platforms like Deribit. This suggests that American hedge funds and institutional players are willing to pay a premium to hold long positions. Such a premium structure, especially evident in CME Group’s Bitcoin futures contracts, points to sustained bullish sentiment among US institutions.
Conversely, demand for leveraged long positions in overseas markets has notably diminished. This trend indicates that international investors are adopting a more cautious approach with reduced appetite for risk.
The analysis also addressed rumors circulating on social media claiming quantum computing threats caused Bitcoin’s price drop to $60,000. According to NYDIG’s data review, there is no evidence supporting this assertion.
Bitcoin price trends actually show positive correlations with stocks of quantum computing firms such as IonQ and D-Wave. If quantum technology posed an imminent threat to Bitcoin’s security or value, one would expect these companies’ shares to rise as Bitcoin declines; however, both have fallen simultaneously.
This parallel downturn primarily reflects an overall decline in market enthusiasm toward growth-oriented assets rather than indicating any specific danger from quantum advancements against Bitcoin.
Furthermore, Google Trends data reveals that interest in quantum computing surged alongside rising Bitcoin prices but did not spike significantly during periods of price drops or panic selling. This suggests the “quantum threat” narrative evolved alongside market optimism rather than fueling fear-driven sell-offs.
Please note: This content does not constitute investment advice.