As Bitcoin approaches $80,000, futures premiums surge on major platforms, reflecting traders’ bullish bias

Odaily Planet Daily Report: Data shows that BTC broke through $79,000 during the Asian trading session on Sunday, with a cumulative weekly gain of 15%, the highest level since February. Most of the gains occurred after Donald Trump won the US election on Thursday. Based on Velo data, the annualized rolling premium on 3-month futures on Binance and Deribit has broken through 14% for the first time since June. The futures basis on CME rose more than 10% on Friday. The rise in the premium reflects traders' preference for bullish bets, which may attract arbitrage traders. In addition, according to Deribit data, the open interest in call option contracts with a strike price of $80,000 has increased to over $1.6 billion, providing buyers with asymmetric upside potential beyond that level. Traders have been buying $80,000 call options since before the US election, and a breakthrough is expected by the end of the year. According to Amberdata data, the $80,000 strike price has the largest negative gamma value, so volatility may rise sharply once the price reaches that level. (CoinDesk)