Bitcoin Shows Bullish Signals on Binance as Perpetual-Spot Gap Narrows

On-chain data from CryptoQuant indicates a potential bullish reversal for Bitcoin as the gap between futures and spot prices on Binance narrows, historically a precursor to price rallies. Meanwhile, the Trump family explores stablecoin ventures, adding to the dynamic crypto landscape.

Bitcoin May Soon Rally as Perpetual-Spot Gap Narrows

On-chain data from CryptoQuant suggests that Bitcoin could be on the verge of a bullish trend reversal. CryptoQuant contributor Joao Wedson noted that the gap between Bitcoin’s futures price and its spot price on Binance is starting to shrink, which may indicate that selling pressure is easing. In the past, Bitcoin’s price often experienced a significant increase when this gap turned positive.

The Trump Family Explores Stablecoin Launch with Binance Deal

The Trump family’s crypto venture, World Liberty Financial, is in discussions with Binance to list a new dollar-pegged stablecoin. According to a Wall Street Journal report, the venture could potentially bring in billions in profits for the Trump family. Binance, which has paid billions of dollars in fines in the United States, met with US Treasury officials last month to discuss easing oversight of the exchange, particularly regarding the removal of the US monitor overseeing Binance’s compliance with anti-money laundering laws.