Bitcoin order book on Binance shows $25M bid liquidity ahead of NFP data, echoing Spoofy the Whale patterns at $86502 with Brown Mega Whales active.

According to Farside Investors, the spread between the Bitcoin basis rate and government bond yields is narrowing. Given that government bonds are considered much lower risk, a further narrowing of this spread could potentially lead to a drying up of the basis trade. This analysis suggests a shift in the risk-reward balance for traders involved in basis trades, indicating a need for careful monitoring of these rates for future trading strategies.