Futures Markets Suggest Record-Breaking Bitcoin Rally to Gain Momentum
- Major indicator of leverage more than doubled overnight
- Bitcoin ETFs are expected to gain inflows, traders say
Photographer: David Lombeida/Bloomberg
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The futures market is suggesting that the record-breaking rally in Bitcoin triggered by Donald Trump’s victory in the US presidential election may just be getting started.
“We saw an immediate risk-on rotation across derivatives amidst the surge,” said Vetle Lunde, head of research at K33 Research. “CME’s basis has surged from 7% yesterday to highs above 15% today, while perps have moved from trading below the spot market to its largest premiums to the spot market since March.”