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Bitcoin Futures Slide Below Spot Price as FTX Fallout Spreads

  • Futures drop into ‘backwardation’ didn’t occur in other routs
  • Marex’s Solot says it likely shows short bets, withdrawals
Bloomberg business news
Can FTX Get Out of an $8 Billion Hole?

The turmoil caused by the implosion of crypto-empire FTX is rippling into the Bitcoin futures market.

The Bitcoin futures curve is in so-called backwardation, meaning its spot price is higher than its futures price, something that didn’t happen during previous selloffs, according to Ilan​ Solot, co‑head of digital assets at Marex Solutions.