Bitcoin Futures Exceed $100K on Deribit, Indicating Strong Market Optimism
Bitcoin (#BTC) has reached a significant milestone, with futures exceeding $100,000 on the Deribit exchange. This surge indicates trader optimism regarding Bitcoin's future value.
As of publication, the futures contract expiring on March 28 traded at $102,362, reflecting a 4.51% premium over Bitcoin's global average spot price of approximately $97,600.
Further data from Deribit and TradingView reveals even higher expectations for later contracts. Futures maturing on June 27 and September 26 were priced at $105,270 and $107,905, respectively, with premiums of 4.56% and 4.70%. This upward-sloping futures curve suggests strong confidence that Bitcoin will exceed $100,000 by early 2025.
Bitcoin Spot vs Futures: Institutional Interest Remains below $100K
Despite optimism in Deribit's futures market, spot market activity presents a different narrative. The current spot price remains below $100,000, with some earlier-expiring futures also under this threshold; for instance, the December 27 contract was trading at $99,117.
Data from the Chicago Mercantile Exchange (CME), a key indicator of institutional interest, shows futures prices are still below six figures. This contrast highlights mixed sentiment in the futures market, where Deribit traders exhibit optimism while others remain cautious.
The $100,000 futures achievement is significant. Additionally, options data from Deribit supports bullish sentiment, as the $100,000 call option has a notional open interest of $2.13 billion, indicating strong bets on Bitcoin surpassing this critical level.