Bitcoin surged to an all-time high near $81,000, driven by growing investor optimism following a U.S. election that saw numerous pro-crypto candidates secure wins. Futures premiums on key platforms soared, highlighting strong expectations for continued gains in the world’s largest cryptocurrency.
On the Deribit exchange, open interest in call options predicting bitcoin prices to surpass $90,000 reached $2.8 billion, showcasing bullish sentiment. Market analysts noted a significant increase in open interest for call options, reflecting a broader market bias favoring further upside.
Call options give buyers the right to purchase an asset at a predetermined price, representing a bet on price increases. Meanwhile, the Chicago Mercantile Exchange (CME), a key platform for institutional investors, reported bitcoin and ether futures premiums at 14.5% and 14%, respectively. These figures have risen sharply from the 7% average seen before the election, underscoring a strong shift toward bullish market sentiment.
According to experts, the rise in premiums signals the influx of risk-takers betting on further price increases, as well as significant growth in open interest for perpetual swaps—contracts that allow investors to speculate on future prices without a set expiration date.
The market saw a broader rally following the election, with ether outpacing bitcoin’s gains, up 30% over the past week. Solana’s market capitalization also exceeded $100 billion on Sunday, highlighting the broad strength across major digital assets. Despite the positive momentum, market liquidity tends to be lower on weekends, leading to more volatile price movements that often retrace when regular trading resumes.
President-elect Donald Trump’s pro-crypto campaign promises have also fueled optimism. He has pledged to make the U.S. a “crypto capital,” including plans to create a national crypto stockpile with over $16 billion in bitcoin seized by the government. His proposal to cut interest rates aligns with market expectations, as lower rates typically support higher crypto prices.
Crypto-focused stocks, including Coinbase and Robinhood, posted strong gains in the wake of the election results. Coinbase shares jumped 48% for the week, buoyed by its active participation in the pro-crypto political landscape. Robinhood’s crypto unit also reported positive developments, with the platform aiming to foster regulatory collaboration and educate policymakers.
With a potentially more crypto-friendly Congress on the horizon, industry participants are optimistic about future market growth and a favorable regulatory environment.
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