Bitcoin price prediction: will $77,370 hold without a futures premium?

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.Analysis: the bitcoin futures curve pays around 5.6 percent a year across every maturity out to September 2027, barely more than the dollar money market. What that missing premium means for the levels at $77,370 and $78,134.Add as a preferred source on GoogleFollow on Google NewsHere is what is documented: bitcoin trades at $77,919 on Sunday evening, 0.4 percent above its level of 24 hours ago and 3.4 percent below the level of a week ago (CoinGecko, November 1, 7:43 p.m.). It is also documented that the December contract on the Deribit futures exchange stands only 0.8 percent above spot, the June contract 3.6 percent and the September 2027 contract 5.1 percent. Our assessment follows further down: this ladder is not a price promise but an interest rate curve, and a market without a leverage premium moves more slowly in both directions. Anyone trying to work out where bitcoin is heading today usually looks at the chart. The second place to look is the futures market, and this Su...