Glassnode: Bitcoin futures base is at the bottom of the cycle and continues to be below 2-year United States debt

On 2 August, Glassnode, an encrypted analyst, indicated that since February this year, three months of bitcoin futures base spreads have been yielding less than 2 annual United States Treasury bonds. There was only one period in history that was this long: August 2022 to January 2023, when it ended at the bottom of the cycle。