Bitcoin (BTC) achieved the highest daily close in history on December 11, as BTC's price action impressively returned to six-figure levels.
BTC/USD chart in 1 day. Source: TinTucBitcoin/TradingView
BTC price forecast sees new record highs in 'the coming days'
Data from TinTucBitcoin and TradingView confirmed that BTC/USD closed the daily candle most recently at around 101,200 USD.
On Bitstamp, this closing level matches December 8, becoming the highest ever recorded, as bullish speculators move away from the local low of 94K USD seen earlier in the week.
"The key level remains identified on $BTC," trader, analyst, and entrepreneur Michaël van de Poppe summarized in his latest analysis on X.
"If the market maintains above that area, we could see new highs in the coming days."
BTC/USDT chart in 4 hours with RSI data. Source: Michaël van de Poppe/X
Commenting, market observers note the continued stability of the market accompanying this new journey to $100K and beyond.
"Bitcoin just quietly had the highest daily close ever," Charles Edwards, founder of the quantitative digital asset fund Capriole Investments, wrote on X on December 12.
"Meanwhile, funding rates are below normal, leverage has been wiped out, and ETF funds are seeing a steady influx of capital day by day."
Edwards mentioned the liquidation of leveraged positions resulting from the market's rapid volatility this week and last.
Short positions are under pressure in this rebound, with total cryptocurrency liquidations in 24 hours at 270 million USD at the time of writing, according to data from monitoring source CoinGlass.
Liquidation of cryptocurrency (screenshot). Source: CoinGlass
Speculation in Bitcoin futures is notably absent
Continuing, Zaheer Ebtikar, co-founder of the cryptocurrency fund Split Capital, pointed out additional data supporting the absence of excessive market risk.
Although Bitcoin is hovering around record highs, he notes that the futures basis level remains unusually low.
"I can't explain to you how crazy this picture is," he told his X followers along with an illustrative chart.
The futures basis is simply the price difference between the spot market and futures, measured as a percentage of the spot. In bullish Bitcoin markets, where record highs occur, this can reach 30% or more, reflecting increased speculation about future BTC price growth.
Comparison of Bitcoin futures basis levels. Source: Zaheer Ebtikar/X
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