Bitcoin Rebound Still Has Space to Run, Two Prime CEO Predicts
Two Prime CEO Alexander Blume believes that Bitcoin's recent rebound still has space to run as institutions face pressure to cover their short positions. This will provide additional fuel for a potential rally, he said.
In an interview with CoinDesk, Blume noted that the current market structure is healthy, and funding rates have not yet shown signs of overheating. The rebound is not driven by speculation, but rather sustained by actual demand from companies and enterprises investing in Bitcoin.
Mining companies are also taking advantage of the situation, opting to use their BTC holdings as collateral for loans rather than selling them immediately. MARA, for example, recently took a 6 billion dollar loan from Coinbase and Two Prime to preserve its upside potential.
As for macroeconomic stability, Blume believes that if it holds up, Bitcoin could be bottoming out around the $60,000 level. However, he warns that the biggest risk is still a collapse in risk assets, which has been widely anticipated by the market.