$MUBARAK | What Market Data Reveals Now

Read: The spread between spot and futures indicates a temporary pricing issue.

Key evidence: Futures are trading at a premium over spot of about 0.27%. The reference price is 0.0661 USDT. Open positions are close to 381.1 million. Funding is positive and tends to crowd upward moves by 0.0001%.

Confirmation condition: The spread must continue, supported by inflows.

When will the reading weaken? If it quickly contracts back toward the norm.

Confidence level: Medium; the reading remains conditional on the data continuing to hold the same.

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