Coinspeaker Bitcoin Futures Break Past $100K on Deribit, Setting Bold Market Expectations
Bitcoin BTC $97 792 24h volatility: 4.7% Market cap: $1.94 T Vol. 24h: $108.99 B has made yet another notable stride after its futures surged past the $100,000 mark on the world’s leading digital assets derivatives exchange Deribit. Usually, this means that traders are quite optimistic about what the value of the cryptocurrency will look like in the coming months.
As of publication, the futures contract expiring on March 28 was trading at $102,362. This showed a 4.51% premium compared to Bitcoin’s global average spot price of around $97,600.
Meanwhile, data from Deribit and TradingView also shows that futures contracts for later dates are even more hopeful. For instance, contracts maturing on June 27 and September 26 were also seen trading at $105,270 and $107,905, respectively. With their premiums to current prices also set at 4.56 and 4.70, the contracts have now formed an upward-sloping futures curve, signaling very high optimism. That is, as it pertains to the spot price of Bitcoin surging past the $100,000 mark by early 2025 and climbing more through the year.
Bitcoin Spot vs Futures: Institutional Interest Remains below $100K
Without a doubt, Deribit’s futures market shows that traders and investors have rested their hopes on Bitcoin and its potential growth in the coming months. However, spot market activity tells a slightly different story.
As of press time, the spot price of Bitcoin remains below the $100,000 mark, and even some futures contracts expiring earlier are in the same under-100 range. For example, the contract set to expire on December 27 was seen trading at $99,117.
Also, data from the Chicago Mercantile Exchange (CME), which is often used to understand the degree of institutional interest at the time, shows futures prices remaining under six figures. This disparity means that there is some sort of mixed feeling in the futures market. That is, while Deribit traders are fairly optimistic about the prospects of Bitcoin, others on other segments of the market are yet apprehensive.
Whatever the case may be, the $100,000 futures milestone is a notable feat. Besides, options data from Deribit also serve to boost the bullish sentiment, with the $100,000 call option having a notional open interest of $2.13 billion.
What this means is that traders are holding nothing back as they continue to bet heavily on Bitcoin to surpass this critical barrier.
next
Bitcoin Futures Break Past $100K on Deribit, Setting Bold Market Expectations
