Glassnode: Bitcoin Futures Basis Shows Cyclical Bottom Pattern, Consistently Below 2-Year U.S. Treasury Bond

August 2nd, Cryptocurrency analytics firm Glassnode stated that since February this year, the 3-month Bitcoin futures basis rate has remained below the 2-year US Treasury yield. Historically, there has only been one other similar extended period: from August 2022 to January 2023, which ultimately marked the bottom of the cycle.