Bitcoin futures premium hits three-month low

Despite Bitcoin staying within 8% of its all-time high, futures premiums have dropped to their lowest level in three months, Cointelegraph reported. The monthly premium fell below 4% on June 19, beneath the typical 5% to 15% range under neutral conditions, signaling increased trader caution following Bitcoin’s rejection at the $110,000 level on June 12. Sentiment in the options market has also shifted. The Bitcoin options skew, which reflects demand for downside protection, has risen to 5%, a neutral-to-bearish signal. This marks a reversal from June 9, when the skew briefly turned bullish after a price rally. Together, the data suggests growing disappointment among traders.