PANews reported on July 14 that CryptoQuant analyst Joaowedson pointed out that the current spot price of Bitcoin is higher than the price of Binance perpetual contracts, which shows that market sentiment has not yet reached a frenzy. However, the price gap between spot and perpetual contracts is gradually narrowing, indicating that investor sentiment is shifting from cautious to optimistic.

Historical data shows that when this price difference turns from negative to positive, Bitcoin tends to usher in a strong upward trend, mainly driven by leveraged trading and market FOMO sentiment. Although this indicator is still negative, the trend is moving in a positive direction, which may indicate that the market is brewing a bigger rally.

Analysts warn that if the indicator turns positive, it may signal a new round of strong rise in Bitcoin.