Bitcoin continued its Christmas rally this morning, reaching a high of $99,000 at the time of writing. In contrast, Altcoins have continued to underperform Bitcoin.
Data shows that the market share has continued to rise over the past two days, currently at 58.47%. Considering the potential risks and returns, Bitcoin still appears to be the best choice for entry or additional positions at this stage.
Derivative data also indicates that the market remains in a neutral to bullish stance, suggesting that the violent price fluctuations have not had a significant impact on market sentiment. The following is the annualized premium rate for Bitcoin 2 -month futures contracts.
The data shows that the trading price of the monthly contract is 12% higher than the regular spot market. Typically, a premium of 5% to 10% is considered neutral, as sellers factor in the extended settlement period. This data result indicates strong demand for leveraged long (buy) positions.
At the same time, Bitcoin put options are currently trading at a 2% discount compared to the corresponding call options, consistent with the trend of the past two weeks. This indicator usually exceeds 6% when whales and market makers expect a potential correction in the market, reflecting the premium on put options.
