💥Bitcoin 15% futures basis 'insane' as BTC price sees record daily close
Bitcoin leveraged bets are off the table after repeated washouts, but BTC price action is seen beating all-time highs within days.
BTC price forecast sees new all-time high in “coming days”
BTC/USD sealing its latest daily candle at around $101,200.
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.
“The crucial level is still defined on $BTC,” trader, analyst and entrepreneur Michaël van de Poppe, summarized in his latest analysis on X.
“If the markets stay above that area, it's likely that we'll see new ATH's in the coming days.”
Commenting, market observers noted continued market stability accompanying the latest trip to $100,000 and beyond.
“Bitcoin quietly just had its highest daily close ever,” Charles Edwards, founder of quantitative Bitcoin and digital asset fund Capriole Investments, wrote in an X post on Dec. 12.
“Meanwhile funding rates are below normal, leverage still wiped and ETFs are seeing day after day of relentless inflows.”
Edwards referred to the cleansing of leveraged position that resulted from snap market volatility this week and last.
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
