Ugly Old GoatFollowJan 4·5 min read·Member-onlyHow To Hedge In BackwardationBackwardation Is a Bullish IndicatorBitcoin entered long-term backwardation last June.Bitcoin futures enter backwardation for the first time in a yearBitcoin's ( BTC) month-to-date chart is very bearish, and the sub-$18,000 level seen over the weekend was the lowest…cointelegraph.com