NEW YORK – The futures market is indicating that Bitcoin’s recent record-breaking rally, sparked by Donald Trump’s surprise victory in the 2024 U.S. presidential election, may be just the beginning of a more significant upward move.
“We saw an immediate risk-on rotation across derivatives following the surge,” said Vetle Lunde, head of research at K33 Research. “CME’s basis has jumped from 7% yesterday to over 15% today, while perpetual contracts (perps) have shifted from trading below the spot market to their largest premiums since March.”
These movements suggest increased investor confidence and demand for Bitcoin, with futures trading at significant premiums over the spot price, a sign that market participants expect further price increases. This dynamic has the potential to fuel the rally, which has already reached new highs in the wake of Trump’s election victory.
