PANews reported on January 3rd, citing Cointelegraph, that Bitcoin prices rose above $90,000 today, reaching a near three-week high. Data shows that despite the price rebound, demand for leveraged long positions in Bitcoin remained stable, with Bitcoin futures basis rates below the neutral threshold and a current annualized premium of 4%. Furthermore, fund flows in derivatives and spot ETFs indicate that traders remain cautious, suggesting limited market confidence in further price increases. Bitcoin spot ETFs have recorded net outflows of over $900 million since December 15th, while Bitcoin put options traded at a premium on Saturday, indicating increased demand from professional traders for downside protection.