Derivatives Markets Reflect Cautious Sentiment Amid Bitcoin Price Recovery

Bitcoin's recent price surge has been met with caution by derivatives markets, despite the cryptocurrency reaching a new high of $70,000.

The persistent fear among traders can be seen in futures premiums being pinned well below neutral levels. This indicates that even as prices recover, underlying concerns are still present.

One reason for this cautious sentiment is the risk-averse behavior of investors, which may be exacerbated by recent events such as institutional liquidations and network security issues.