Expectations of 40 thousand dollars in Bitcoin are getting stronger!

Eyes turned to Bitcoin in the crypto markets. BTC, which rose with hopes for spot ETF expectations, was stuck at the $ 38,000 band. BTC changed hands around $ 37,800 today. Meanwhile, Chicago Mercantile Exchange (CME) Bitcoin futures revealed that investors' expectations of $ 40,000 in BTC price have strengthened.

Market data pointed to increased demand for Bitcoin from institutional investors. This was evident as CME Bitcoin futures surpassed Binance in terms of market capitalization. In BTC derivatives metrics, investors see strong potential for Bitcoin to rise above the $40,000 level in the short term.

Analysts emphasized that the data in question is not a clear bullish signal. It was pointed out that there is no direct relationship between the recent activity and the actions of market makers or issuers. Cryptocurrency analyst JJcycles emphasized that institutional investors have several options to avoid the high costs associated with futures contracts.

He stated that CME Bitcoin options, which require less capital and offer leveraged transactions, will be preferred.

While it was stated that the intense interest in CME Bitcoin futures is important, it was noted that large asset managers will not take big risks until the SEC's decisions are clear. CME's BTC futures activity has risen steadily in recent periods. The most notable development was the increase in the annualized premium (base rate) of contracts. In neutral markets, monthly futures contracts trade at a base rate of 5 percent to 10 percent.

The annualized premium for CME Bitcoin futures rose from 15 percent to 34 percent on November 28. At the end of the day, it stabilized at 23 percent. The base rate exceeding 20 percent signaled that buyers were willing to pay a premium for leveraged long positions.