隨著期貨溢價飆升和 1.6B 美元的未平倉選擇權押注暗示價格波動，比特幣價格預計將達到 8 萬美元

期貨溢價飆升，顯示看漲押注的傾向。

Bitcoin (BTC) price continued to march higher Sunday, reaching within $1,500 of the $80,000 round number as traders ramped up bullish bets in derivatives linked to the leading cryptocurrency.

隨著交易員加大對與領先加密貨幣相關的衍生品的看漲押注，比特幣 (BTC) 價格週日繼續走高，達到 80,000 美元整數值的 1,500 美元以內。

The latest price surge came amid a broader market rally following the U.S. presidential election, which saw Donald Trump secure the Republican nomination. Hopes are high that the next U.S. administration will provide greater regulatory clarity for the digital assets industry.

最新的價格飆升之際，美國總統大選後唐納德·川普獲得共和黨提名，市場出現更廣泛的上漲。人們對下一屆美國政府將為數位資產產業提供更明確的監管抱持著很高的希望。

Data showed traders were paying an annualized premium of over 14% for three-month bitcoin futures on Binance and Deribit, the highest since June, according to data source Velo. The so-called futures basis on the CME rose past 10% on Friday.

數據來源 Velo 的數據顯示，交易者為 Binance 和 Deribit 上的三個月期比特幣期貨支付的年化溢價超過 14%，為 6 月以來的最高水準。 CME 所謂的期貨基差週五上漲超過 10%。

The uptick in the premium reflects a bias for bullish bets, which could, in turn, attract carry traders looking to profit from price discrepancies between the two markets.

溢價的上升反映了看漲押注的傾向，這反過來可能會吸引希望從兩個市場之間的價格差異中獲利的套利交易者。

Meanwhile, open interest in the $80,000 strike BTC call, offering an asymmetric upside potential to buyers at prices above the said level, had risen to over $1.6 billion, Deribit data showed.

同時，Deribit 數據顯示，80,000 美元執行價格的 BTC 看漲期權的未平倉合約已升至超過 16 億美元，為價格高於上述水平的買家提供了不對稱的上漲潛力。

Traders have been buying the $80,000 call in anticipation of a price breakout before the year-end. Data showed traders began to build up positions in the $80,000 call option as early as mid-October.

交易員預計年底前價格會突破，因此一直買入 8 萬美元的看漲期權。數據顯示，交易員早在 10 月中旬就開始建立 8 萬美元看漲期權的部位。

However, Deribit data also showed the $80,000 strike had the most negative gamma. This means that volatility could increase sharply once prices reach that level.

然而，Deribit 數據也顯示，8 萬美元的罷工具有最大的負伽馬值。這意味著一旦價格達到該水平，波動性可能會急劇增加。

Holding negative gamma translates into holding a net short exposure at a specific price level. Concentration of negative gamma at $80,000 suggests that dealers or entities tasked with providing liquidity to order books may be buying the potential breakout above $80,000, adding to bullish price momentum in the market.

持有負伽瑪意味著在特定價格水準持有淨空頭部位。負伽瑪值集中在 80,000 美元，這表明負責為訂單簿提供流動性的交易商或實體可能會在突破 80,000 美元時買入，從而增加市場看漲的價格勢頭。