The 15% futures basis for bitcoin is "insane" as the price hits a record daily closing.

As six-figure BTC price activity returned with a vengeance, the Bitcoin BTCUSD achieved its biggest daily close in history on December 11.

The price of bitcoin is expected to reach a new all-time high in the "coming days."

Cointelegraph Markets Pro and TradingView data verified that the BTCUSD closed its most recent daily candle at about $101,200.

Bulls pulled away from local lows of $94,000 earlier in the week, and this tied the close on December 8 to become the highest ever recorded on Bitstamp.

In his most recent research on X, trader, analyst, and entrepreneur Michaël van de Poppe summed up, "The crucial level is still defined on $BTC."

"If the markets continue to rise above that region, we should expect to see new ATH's in the coming days."

Market watchers commented that the most recent voyage to $100,000 and higher was accompanied by ongoing market stability.

“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.

"In the meantime, funding rates are below average, leverage is still being wiped out, and ETFs continue to see daily inflows."

Edwards refers to the cleansing of leveraged positions which occurred from snap market volatility this week and previous.

According to data from the monitoring site CoinGlass, shorts were hit hard by the recovery, with total 24-hour cryptocurrency liquidations reaching $270 million at the time of writing.

There is notably little speculation on Bitcoin futures.

Zaheer Ebtikar, co-founder of the cryptocurrency fund Split Capital, went on to point out more evidence that there isn't an inordinate amount of market risk.

He pointed out that Bitcoin's futures basis stayed abnormally low even though it was hovering around all-time highs.

He shared an example chart with his X followers and said, "I can't explain to you how absolutely insane this image is."

The price differential between spot and futures market pricing, expressed as a percentage of spot, is known as the futures basis. The basis can rise by 30% or more in Bitcoin bull markets where all-time highs are reached, indicating heightened anticipation about future price increases.

There is no investment advice or recommendation in this article. Every trading and investment decision carries some risk, so readers should do their own research before making a choice.

By including relevant keywords and linking to related articles, the rewritten content aims to provide comprehensive information while enhancing search engine optimization for CryptoTelegraphs.

Join Telegram Channel For Daily New update: https://t.me/cryptotelegraphs_updates