As bitcoin crosses the bar for the first time 100,000 dollarsthe market is experiencing a phase of increased volatility. However, derivatives data reveals marked investor optimism, suggesting a continuation of the upward trend.
Bitcoin Derivatives Confirm Strong Market Despite Volatility
Bitcoin is now trading above $100,000, marking a historic milestone after its meteoric rise of more than 40% since the beginning of November. This symbolic crossing materializes the expectations of the most optimistic analysts and validates the robustness of the crypto market.
Trading volumes remain strong, notably thanks to institutional purchases, with MicroStrategy recently acquiring an additional 15,400 BTC for $1.5 billion.
The appetite of institutional investors is not weakening, as also evidenced by Marathon Digital, which has invested more than $600 million in bitcoin over the last two months. These massive acquisitions solidify the role of institutions in supporting prices, providing a solid floor despite increased volatility around the psychological $100,000 level.
Furthermore, spot Bitcoin ETFs continue to attract significant flows, with net inflows exceeding $3.2 billion since mid-November. This dynamic confirms the growing interest of traditional investors in this asset class, further strengthening market fundamentals.
Derivative indicators point to measured optimism
Derivative markets present a positive reading of the current situation. Bitcoin futures are trading at a 19% annualized premium, slightly above recent levels, reflecting healthy, non-speculative bullish sentiment.
The options market supports this trend, with a negative put-call spread of 10%, signaling a strong preference among traders for bullish positions. This pattern reflects low demand for hedging against a correction, despite recent fluctuations.
For their part, perpetual contracts, popular with individual traders, display a funding rate of 1.6%, well below worrying levels above 6%. This suggests that the market remains balanced, with no signs of speculative overheating.
In short, despite persistent volatility around $100,000, derivatives market indicators confirm a healthy market. The confidence of investors, both institutional and individual, remains intact, reinforcing the prospects of an upward recovery after this adjustment phase. Crossing this historic threshold could well mark the start of a new chapter for bitcoin.
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