{"id":52169,"date":"2024-12-13T01:13:00","date_gmt":"2024-12-13T01:13:00","guid":{"rendered":"https:\/\/cointelegraph.com\/news\/bitcoin-futures-insane-btc-price-record-daily-close"},"modified":"2024-12-13T04:03:42","modified_gmt":"2024-12-13T04:03:42","slug":"bitcoin-15-futures-basis-insane-as-btc-price-sees-record-daily-close","status":"publish","type":"post","link":"https:\/\/emilynews.com\/blog\/?p=52169","title":{"rendered":"Bitcoin 15% futures basis 'insane' as BTC price sees record daily close"},"content":{"rendered":"

Bitcoin (BTC) saw its highest daily close in history on Dec. 11 as six-figure BTC price action came back with a bang.<\/p>\n

\"\"
BTC\/USD 1-day chart. Source: Cointelegraph\/TradingView<\/em><\/p>\n<\/figcaption><\/figure>\n

BTC price forecast sees new all-time high in \u201ccoming days\u201d<\/h2>\n

Data from Cointelegraph Markets Pro and TradingView confirmed BTC\/USD sealing its latest daily candle at around $101,200.<\/p>\n

On Bitstamp, this matched the close from Dec. 8 to become the highest ever recorded, with bulls pulling away from local lows of $94,000 seen earlier in the week.<\/p>\n

\u201cThe crucial level is still defined on $BTC,\u201d trader, analyst and entrepreneur Micha\u00ebl van de Poppe, summarized in his latest analysis on X.<\/p>\n

\u201cIf the markets stay above that area, it’s likely that we’ll see new ATH’s in the coming days.\u201d<\/p><\/blockquote>\n

\"\"
BTC\/USDT 4-hour chart with RSI data. Source: Micha\u00ebl van de Poppe\/X<\/em><\/p>\n<\/figcaption><\/figure>\n

Commenting, market observers noted continued market stability accompanying the latest trip to $100,000 and beyond.<\/p>\n

\u201cBitcoin quietly just had its highest daily close ever,\u201d Charles Edwards, founder of quantitative Bitcoin and digital asset fund Capriole Investments, wrote in an X post on Dec. 12.<\/p>\n

\u201cMeanwhile funding rates are below normal, leverage still wiped and ETFs are seeing day after day of relentless inflows.\u201d<\/p><\/blockquote>\n

Edwards referred to the cleansing of leveraged positions that resulted from snap market volatility this week and last.<\/p>\n

Shorts felt the heat on the rebound, with combined 24-hour crypto liquidations at $270 million at the time of writing, per data from monitoring resource CoinGlass.<\/p>\n

\"\"
Crypto liquidations (screenshot). Source: CoinGlass<\/em><\/p>\n<\/figcaption><\/figure>\n

Bitcoin futures speculation noticeably absent<\/h2>\n

Zaheer Ebtikar, co-founder of crypto fund Split Capital, flagged additional data supporting the lack of excessive market risk.<\/p>\n

Related: <\/strong><\/em>Bitcoin \u2018Choppiness\u2019 index hints $110K BTC price will be tough to crack<\/strong><\/em><\/p>\n

Despite Bitcoin circling all-time highs, he noted, its futures basis remained unusually low.<\/p>\n

\u201cI can\u2019t explain to you how absolutely insane this image is,\u201d he told X followers alongside an illustrative chart.<\/p>\n

The futures basis refers to the difference in price between spot and futures market pricing, measured as a percentage of spot. In Bitcoin bull markets where all-time highs occur, the basis can reach 30% or more, reflecting increased speculation over BTC price growth to come.<\/p>\n

\"\"
Bitcoin futures basis comparison. Source: Zaheer Ebtikar\/X<\/em><\/p>\n<\/figcaption><\/figure>\n

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.<\/p>\n

Check other news for today<\/span> and Please stand by..<\/p>\n

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\"\"<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin (BTC) saw its highest daily close in history on Dec. 11 as six-figure BTC price action came back with a bang. BTC\/USD 1-day chart. Source: Cointelegraph\/TradingView BTC price forecast sees new all-time high in … Bitcoin 15% futures basis 'insane' as BTC price sees record daily close<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":52172,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5651],"tags":[139,3544,3812,5652,10,159,97],"class_list":["post-52169","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptonews","tag-bitcoin","tag-bitcoin-news","tag-cryptonews","tag-emilynews","tag-hyip","tag-hyipnews","tag-hyips","exalt-entry"],"yoast_head":"\nBitcoin 15% futures basis 'insane' as BTC price sees record daily close - EmilyNews<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/emilynews.com\/blog\/?p=52169\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin 15% futures basis 'insane' as BTC price sees record daily close - EmilyNews\" \/>\n<meta property=\"og:description\" content=\"Bitcoin (BTC) saw its highest daily close in history on Dec. 11 as six-figure BTC price action came back with a bang. 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