According to online reports, Crypto Quant analyst Axel Adler Jr tweeted that the trading price of BTC futures is higher than spot, the basis continues to be positive, and the 7-day basis is higher than the 30-day basis, indicating that the market is in a bullish state. Before the FOMC meeting, the market showed signs of overheating/divergence, and short-term overheating (rising basis and small trading volume) indicates that the market trend has entered a later stage. Basic situation for the next two weeks (~70%): Gradually upward trend/sideways consolidation. If a set of green trend confirmation signals appear in the next few days (price rise + basis rise +OI rise), it indicates new long participation and increases the possibility of a new high.