Bitcoin approaches $80,000, futures premium rises sharply

Bitcoin prices topped $79,500 during the Asian session as futures premiums rose sharply, reflecting strong market expectations for future gains. The annualized premium for three-month Bitcoin futures topped 14% for the first time, showing bullish sentiment. Meanwhile, the $80,000 call option unpositioned squaring contract on the Deribit platform surged to $1.60 billion, with traders betting that Bitcoin will break through this key price point before the end of the year. Market volatility is expected to increase further once it breaks through $80,000.