Bitcoin has reached a peak of $99,000! Are altcoins still catching up? Is now the best time to enter?
This morning, Bitcoin continued its Christmas rally, and at the time of writing, the price has reached a maximum of $99,000. In contrast, altcoins are still lagging behind Bitcoin.
Data shows that Bitcoin's market share has been steadily recovering over the past two days and has now reached 58.47%. Considering the potential risks and rewards, if one were to enter or increase their position now, Bitcoin still seems to be the best choice.
The trading price for monthly futures contracts is 12% higher than the regular spot market. Typically, a premium of 5% to 10% is considered neutral, as sellers would factor in an extended settlement period when pricing. However, the current 12% premium indicates very strong demand for leveraged long (buy) positions.
Meanwhile, Bitcoin's put options are currently trading at a 2% discount compared to call options with similar conditions, consistent with the trend over the past two weeks. When the market expects a possible correction, whales and market makers usually drive up the premiums on put options, and this data typically exceeds 6%.
