CoinShares: Bitcoin futures basis too weak to confirm a new bull market
- —Bitcoin futures basis at 5–6%, down from peaks above 20% in 2024
- —Perpetual funding rates were still negative in spring 2026
- —BTC has gained over 50% since July's $57,700 low, breaking $82,700
- —CoinShares sees lower oil prices and central bank liquidity as potential catalysts
Why it matters: Without a recovery in basis and funding rates, the move may prove a relief rally rather than a trend change.
Source: BTC-ECHO