US Investors Bullish on Bitcoin as Global Sentiment Diverges

US institutional investors continue to show confidence in Bitcoin, maintaining leveraged positions despite a global divergence in market sentiment. According to data from CME, favored by US hedge funds and institutions, traders are paying a premium to hold long positions in Bitcoin futures. This contrasts with non-US traders, who are reducing their positions, particularly on offshore platforms like Deribit.

Greg Cipolaro, Head of Research at NYDIG, highlighted the disparity in the one-month annualized basis, which remains higher on CME compared to Deribit. This indicates a stronger demand for leveraged long exposure among US investors, while the offshore market shows signs of weakening demand. The widening basis between CME and Deribit reflects differing regional risk appetites.