Data: CryptoQuant analyst: BTC shows signs of short-term overheating, this rally has entered its late stage

ChainCatcher News, according to CryptoQuant data, analyst Axel Adler Jr stated that BTC futures are trading at a premium relative to spot, with the basis remaining positive and the 7-day basis higher than the 30-day basis, indicating a bullish pattern. Overheating/divergence signals have appeared before the Federal Reserve meeting, and the short-term overheating phenomenon (basis rising under low trading volume) suggests that the current rally has entered its later stage.

The analyst said there is about a 70% probability of a stepwise increase or sideways movement in the next two weeks. If a cluster of green trend confirmation signals appears in the coming days (price increase + rising basis + increasing open interest), it will indicate the participation of new bulls and increase the likelihood of reaching a new all-time high.