Bitcoin futures trade with a 20% annualized premium, levels not seen since March. Will the BTC rally continue?
Bitcoin's (BTC) surprising 9.4% rally between Dec. 4 and Dec. 5 pushed the price to a new all-time high above $100,000. This movement was followed by a surge in demand from leveraged buyers, prompting traders to question whether the rally is sustainable and how whales and market makers are positioned.
Bitcoin 2-month futures annualized premium. Source: Laevitas.ch
The last time Bitcoin futures traded with a 20% annualized premium (basis rate) relative to spot markets was on March 24, when BTC reclaimed the $70,000 level. Prior to that, even when Bitcoin reached its high of $73,757 on March 13, Bitcoin futures remained below the 20% mark.
