Analyst: The risk ratio of Bitcoin sellers has reached a certain level, the market needs to find a new price range

Glassnode analyst Checkmatey has stated that the risk ratio for bitcoin sellers has reached a certain level, indicating it's time for the market to take action. All those who are going to profit have already profited. The same goes for losses. The market needs to find a new price range to ignite feelings of fear, greed, panic or excitement. Furthermore, Bitcoin futures arbitrage trading may have already reached its limit. A few weeks ago, traders could lock in almost risk-free 10-year premiums by going long on spot and short on futures. Technically speaking, because both parties need transaction fees, the annual premium rate is 5%. It has now dropped to 6% (technically 3%), which is lower than the risk-free interest rate of cash equivalents.