Okcoin's quarterly futures has been quite bearish and the premium hasn't recovered after each dump despite the spot price recovering and rising.
It's premium is actually now lower than that when the new quarterlies was opened.
This is something worth noticing despite numerous good news which includes:
1. Segwit ...
From the charts, we can see that there's no strong correlation between a new quarterly futures with the btc spot price.
The term "Whales won't let you have cheap prices", is only true if the trend is up.
Whales can also short.
What matters most is the price trend and price action.
New quarterly futures contract ...
China lagging behind USD exchanges. Bad.
From historical data, China always lead during a pump.
There were 2 occurrences(that i could find) when China is lagging with this magnitude during sideways/pump.
BOTH WHICH ENDED UP DUMPING WITH FULL RETRACE.
However, not all hope is lost just yet.