随着期货溢价飙升和 1.6B 美元的未平仓期权押注暗示价格波动，比特币价格有望达到 8 万美元

期货溢价飙升，表明看涨押注的倾向。

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.

随着交易员加大对与领先加密货币相关的衍生品的看涨押注，比特币 (BTC) 价格周日继续走高，达到 80,000 美元整数值的 1,500 美元以内。

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.

最新的价格飙升之际，美国总统大选后唐纳德·特朗普获得共和党提名，市场出现更广泛的上涨。人们对下一届美国政府将为数字资产行业提供更加明确的监管抱有很高的希望。

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.

数据来源 Velo 的数据显示，交易者为 Binance 和 Deribit 上的三个月期比特币期货支付的年化溢价超过 14%，为 6 月份以来的最高水平。 CME 所谓的期货基差周五上涨超过 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.

溢价的上升反映了看涨押注的倾向，这反过来可能会吸引希望从两个市场之间的价格差异中获利的套利交易者。

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.

与此同时，Deribit 数据显示，80,000 美元执行价格的 BTC 看涨期权的未平仓合约已升至超过 16 亿美元，为价格高于上述水平的买家提供了不对称的上涨潜力。

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.

交易员预计年底前价格会突破，因此一直买入 80,000 美元的看涨期权。数据显示，交易员早在 10 月中旬就开始建立 80,000 美元看涨期权的头寸。

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 数据还显示，80,000 美元的罢工具有最大的负伽马值。这意味着一旦价格达到该水平，波动性可能会急剧增加。

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.

持有负伽玛意味着在特定价格水平持有净空头敞口。负伽玛值集中在 80,000 美元，这表明负责为订单簿提供流动性的交易商或实体可能会在突破 80,000 美元时买入，从而增加市场看涨的价格势头。