$2Z | The most important thing that market data reveals right now

Reading: The spread between the spot and the futures reveals a temporary pricing anomaly.

Key evidence: The futures are trading at a discount to the spot of about -0.56%. Reference price: 0.0679 USDT. Open positions are around 99.6 million. Funding is negative and tends to intensify the downside crowding at -0.0030%.

Confirmation requirement: The spread must continue along with supportive flows.

When will the reading weaken? It quickly contracts back toward the normal level.

Confidence level: Medium, and the reading remains conditional on the continued consistency of the same data.

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