ChaiNext: USDT negative premium, lack of sentiment to enter the market

At 8 o’clock on May 6, Beijing time, the ChaiNext 100 index, which reflects the overall trend of the cryptocurrency market, reported 802.43 points, up 0.35% in the past 24 hours, with a turnover of 87.222 billion U.S. dollars, and a decrease of 9.04% from the previous 24 hours. 39 of them rose, 61 fell; the ChaiNext 5 index, which reflects the performance of the blue-chip cryptocurrency market, reported at 702.21 points, up 0.39% in the past 24 hours, with a turnover of 70.745 billion US dollars, a decrease of 8.50% from the previous 24 hours; the Bitcoin Bubble Index ( BBI index) reported 76.47 points, down 0.56% in the past 24 hours; USDT OTC Index (USDT OTC Index) reported 99.54 points, down 0.17% in the past 24 hours. Yesterday’s market did not fluctuate significantly, as if everything was waiting for the moment to erupt. BTC has returned to above the USD 8,900, close to the upper edge of the downward channel since June 2019. The good news is that the long-term moving average of BTC turned flat and is about to rise, which is also one of the necessary conditions for the bull. The bad news is that the USDT premium rate has continued to decrease, and it has now become a negative premium of -0.15%. Market sentiment and entry sentiment are continuing to weaken.

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