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  • Bitcoin Price Tops $80K as Futures Premium Soars and $1.6B in Open Options Bet Hints Big Swings
  • Crypto

Bitcoin Price Tops $80K as Futures Premium Soars and $1.6B in Open Options Bet Hints Big Swings

cryptovert November 11, 2024 1 min read

The
annualized
rolling
premium
in
three-month
bitcoin
futures
listed
on
prominent
exchanges
Binance
and
Deribit
has
surged
alongside
the
price,
topping
14%
for
the
first
time
since
June,
according
to
data
source
Velo.
The
so-called
futures
basis
on
the
CME
rose
past
10%
on
Friday.

The
uptick
in
the
premium
reflects
a
bias
for
bullish
bets
and
may

entice
carry
traders

looking
to
profit
from
price
discrepancies
between
the
two
markets.

Elsewhere,
open
interest
in
the
$80,000
strike
BTC
call,
offering
an
asymmetric
upside
potential
to
buyers
beyond
the
said
level,
increased
above
$1.6
billion,
according
to
data
source
Deribit.
Traders
have
been
piling
into
the
$80,000
call
since
before
the
U.S.
election,
anticipating
a
breakout
before
the
end
of
year-end.

Data
tracked
by
Amberdata
show
the
$80,000
strike
has
the
most
negative
gamma
and
as
such
volatility
could
increase
sharply
once
prices
reach
that
level.

Continue Reading

Previous: Why Bitcoin Will Soar Above Its Fresh Record: Van Straten
Next: Bitcoin Smashes $79K in Bullish Weekend Pump, With $280M Bearish Bets Liquidated

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