contango

Bitcoin futures in contango mean the futures price is higher than spot, reflecting bullish market expectations.比特币期货处于升水状态意味着期货价格高于现货价格，反映了看涨的市场预期。

Traders exploit contango by shorting futures and buying spot, capturing the basis as convergence approaches expiry.交易者通过做空期货和买入现货来利用期货升水，随着接近到期日基差趋同来获取收益。