Bitcoin continued its Christmas gains this morning, reaching a peak of $99000 at the time of writing this article. In contrast, the performance of altcoins still lags behind that of Bitcoin.

Data shows that the market share has been continuously recovering in the past two days, and has now reached 58.47%. Considering the potential risks and returns, Bitcoin seems to be the best choice for entering or increasing positions at this stage.

The derivative data indicates that the market still maintains a neutral to bullish stance, indicating that severe price fluctuations have not had a significant impact on market sentiment. The following is the annualized premium rate for Bitcoin futures with a maturity of 2 months.

The data shows that the trading price of monthly futures contracts is 12% higher than that of conventional spot markets. Typically, a premium of 5% to 10% is considered neutral because sellers consider extended settlement periods when pricing. And this data result shows strong demand for leveraged long (buy) positions.

At the same time, Bitcoin put options are currently trading at a 2% discount compared to call options with the same conditions, which is consistent with the trend of the past two weeks. When whales and market makers anticipate a possible correction in the market, this indicator usually exceeds 6%, reflecting the premium of the put option.