Wall Street Optimism for Bitcoin Grows as Offshore Traders Step Back

Wall Street shows a strong bullish sentiment towards Bitcoin, contrasting with a retreat by offshore traders in the crypto market.

The prevailing sentiment on Wall Street regarding Bitcoin is increasingly positive, showcasing a bullish outlook while offshore traders appear to be withdrawing from active participation.

This divergence can be attributed to the contrasting futures basis observed between the Chicago Mercantile Exchange (CME) and Deribit. The difference highlights the varying levels of risk tolerance present in different regions and among various trader demographics.