Glassnode co-founder: The futures to spot ratio of BTC has dropped to an annual low and is currently trying to regain the range of $97,200 to $98,500

ChainCatcher news, according to an analysis by Negentropic, co-founder of Glassnode, the futures to spot ratio of BTC has dropped to an annual low after experiencing a period of false breakouts and failed breakdowns in a volatile market.

Currently, BTC is attempting to regain the range of $97,200 to $98,500, which is an important foundation for hitting $100,000. At this critical level, a surge in trading volume in the futures market could trigger more liquidations and price instability.