The cryptocurrency frenzy has just begun! The market is optimistic that Bitcoin will surge to $80,000 within the month.

Noticeably, the futures market indicates that the record surge in Bitcoin triggered by Trump's victory in the US presidential election may just be beginning. Vetle Lunde, head of research at K33 Research, said, "Against the backdrop of soaring prices, we see an immediate rotation of risk preference in derivatives. The basis on the Chicago Mercantile Exchange has increased from yesterday's 7% to over 15% today, while the trading price of perpetual contracts has risen to the highest premium since March." Bitcoin futures contracts on the Chicago Mercantile Exchange derivatives market are one of the hottest ways for US institutional investors to profit in a bull market. The so-called basis, the difference between the spot market price and the futures contract price, had been sluggish in the days leading up to the election. At the same time, perpetual futures contracts are one of the most popular choices for offshore investors, with higher financing rates, thus attracting more attention, indicating an increasing demand for leverage in the market. Bitcoin broke $75,000 for the first time as people anticipate more favorable cryptocurrency policies and regulations under Trump's second term. Even before yesterday's vote, the Bitcoin options market had set the Bitcoin price for expiry at the end of November at $80,000. Michael Safai, founding partner of quant trading firm Dexterity Capital, said, "Trump promised to reduce US regulatory intervention, a call that cryptocurrency investors have been vocal about for years." Although the largest outflow of funds from exchange-traded funds supported by the largest cryptocurrency exchanges occurred on Monday, traders expect a reversal during the US session on Wednesday, with positive outflows potentially increasing significantly. "Lunde said," The European trading session has been relatively calm, but Bitcoin seems to have found support at historical highs, which is a positive signal that Bitcoin will continue to rise." against the backdrop of increasing opportunities for arbitrage on the Chicago Mercantile Exchange after the election, we expect a significant inflow of ETF funds today, which should support Bitcoin's strong performance." Some traders note that this surge does bring with it the risk of price correction. The last bull market sparked by the launch of the Bitcoin ETF in March led to large-scale liquidations in both directions. Nathanal Cohen, co-founder of INDIGO Fund, said, "Due to profit taking, we will remain cautious of retracements at these levels, but we expect the overall trend in the coming quarters to be upward."