Bitcoin continued to rise this morning, reaching a high of $99,000 while writing this article. In contrast, the performance of altcoins still lags behind Bitcoin.
Data shows that the market share has continued to rebound over the past two days, currently reaching 58.47%. Considering potential risks and rewards, entering or increasing positions at this stage, Bitcoin still seems to be the best choice.
Derivative data indicates that the market still maintains a neutral to bullish stance, showing that significant price volatility has not had a major impact on market sentiment. Below is the annualized premium rate for Bitcoin futures expiring in 2 months.
Data indicates that the trading price of monthly futures contracts is 12% higher than the regular spot market. Typically, a premium of 5% to 10% is considered neutral, as sellers take into account the extended settlement period when pricing. This data result shows a strong demand for leveraged long positions (buying).
Meanwhile, Bitcoin put options are currently trading at a 2% discount compared to call options under the same conditions, which is consistent with the trend of the past two weeks. When whales and market makers anticipate a potential market correction, this indicator typically exceeds 6%, reflecting the premium of put options.
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