Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Bitcoin futures show market expects continued price appreciation into 2024, analyst says

Bitcoin futures show market expects continued price appreciation into 2024, analyst says

The BlockThe Block2023/12/05 16:48
By:Brian McGleenon

Bitcoin futures indicate the market expects the digital asset’s price will appreciate in 2024, according to Deribit.

Bitcoin futures show market expects continued price appreciation into 2024, analyst says image 0
Deribit derivatives exchange data suggests "a supporting sign" for the continued appreciation of bitcoin in the spring of 2024, according to an analyst.
 
Deribit Chief Commercial Officer Luuk Strijers pointed to data that shows the futures premium above the spo t price of bitcoin has been increasing since early October for contracts expiring in March, June, and September next year.
 
Strijers told The Block that bitcoin's futures basis, the difference between the spot price of an asset and the future price of the same asset, has increased beyond 10%, presenting a strong indicator of m arket sentiment.
 
"When the basis is increasing, it suggests that the market expects the spot price to rise. The annualized basis is now 10-12%, which means the market expects the underlying asset to rise 10-12% in the coming year," Strijers added.

The chart shows the current basis is 10-12% annualized.

Bitcoin rally

Bitcoin BTC +2.95% broke through the $42,000 mark earlier this week. Strijers attributed the recent surge to a confluence of factors including widespread optimism and anticipation of multiple decisions about applications for spot ETFs .
 
Strijers also cited the easing of concerns following the settlement of Binance's legal matters . "There is also the escalating geopolitical tensions, easing of inflation, and the steady increase in institutional engagement," he added.
 
Bitcoin was up 2% on Tuesday, trading for $42,166 at 9:50 p.m. ET.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Subscribe to TANSSI Savings and enjoy up to 15% APR

Bitget Announcement2025/07/15 11:00

TACUSDT now launched for futures trading and trading bots

Bitget Announcement2025/07/15 10:40

Bitget Spot Bot adds PUMP/USDT

Bitget Announcement2025/07/15 08:00