Bitcoin: Where U.S. Bulls Roam and Offshore Bears Hide

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Markets

What to know (or at least pretend to know):

  • American bigwigs are clinging to their bitcoin like it’s the last slice of pizza at a party, while offshore traders are slipping out the back door, NYDIG reports.
  • The CME and Deribit futures markets are basically having a transatlantic staring contest, and it’s getting awkward.
  • Bitcoin’s price is dancing to the same tune as quantum computing stocks, which is either poetic or just plain confusing.

So, here’s the scoop: Wall Street’s bitcoin enthusiasts are standing firm, while their offshore counterparts are doing the financial equivalent of ghosting. It’s like a bad romance novel, but with more spreadsheets.

The real drama is in the futures markets. CME, the darling of U.S. hedge funds, shows traders are still betting big on bitcoin, according to Greg Cipolaro, NYDIG’s resident brain. Meanwhile, Deribit, the offshore playground, is looking a bit like a deflated bouncy castle.

“The offshore basis drop is like a yawn at a party-everyone’s losing interest,” Cipolaro quipped. “The CME-Deribit spread is basically a real-time thermometer for who’s still excited and who’s ready to call it a night.”

Bitcoin took a nosedive to $60,000 earlier this month, prompting the usual hand-wringing about quantum computing. You know, the thing that’s supposed to break everything but hasn’t actually broken anything yet. NYDIG, ever the voice of reason, says the numbers don’t support the panic.

Turns out, bitcoin’s been moving in lockstep with quantum computing stocks like IONQ and D-Wave. If quantum risk were the culprit, those stocks would be soaring while bitcoin tanked. Instead, they’re both taking a nap, suggesting it’s just a broader market snooze fest.

And let’s not forget Google Trends, the ultimate barometer of human curiosity. Searches for “quantum computing bitcoin” spike when BTC prices rise, proving that we’re all just trying to sound smart at parties.

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2026-02-15 15:52