CME Bitcoin Backwardation Plummets to 2022 Low, Signaling Potential Market Turbulence

The Chicago Mercantile Exchange (CME) Bitcoin futures market is flashing a warning sign: CME Bitcoin backwardation has plunged to its lowest level since the FTX collapse in November 2022. This deep drop to -2.35%, as indicated by annualized rates, signals a significant shift in institutional sentiment regarding Bitcoin’s future price trajectory. Experts are scrutinizing this development closely, as it suggests a potential market downturn or increased bearish pressure from sophisticated traders.