Market prepares for records: BTC futures on Deribit break $100,000
Bitcoin futures are setting records
Bitcoin futures contracts on the trading platform Deribit have reached the historic milestone of $100,000, trading at a premium to the spot price.
As reported by Coindesk, at the time of publication, the March 28 futures contract was trading at $101,992, which is 4.8% above the average spot price of $97,200. Longer-dated contracts reflect growing market optimism: June futures reached $104,948, while September contracts are trading at $107,690. This pricing structure highlights market participants' confidence in BTC exceeding $100,000 in the first half of 2024.
Options trading on Deribit reinforces this outlook: the $100,000 call option shows an open interest of $2.13 billion, signaling significant interest in Bitcoin's continued growth.
However, nearer-term futures contracts expiring on December 28 remain below the six-figure threshold. A similar situation is observed on the Chicago Mercantile Exchange (CME), considered a barometer of institutional demand, where futures have also not breached $100,000.
These indicators suggest that the Bitcoin market is gearing up for another surge in growth.
What are Bitcoin futures?
Bitcoin futures contracts are financial instruments that allow traders and investors to speculate on the future price of Bitcoin without owning the asset itself. A futures contract is an agreement between two parties to buy or sell Bitcoin at a fixed price at a specific date in the future.
These contracts are widely used for hedging risks and profiting from price fluctuations. For example, investors can lock in Bitcoin prices to protect against potential declines or capitalize on expected growth.
Bitcoin futures are traded on specialized platforms like Deribit, Binance, or the Chicago Mercantile Exchange (CME). They offer access to larger positions through leverage, making them attractive to professional traders.
Just yesterday, Bitcoin's price was around $94,000, and today it has already climbed by $3,000.
