Bitcoin futures trading on Deribit have breached the monumental $100,000 threshold, signaling surging confidence in Bitcoin’s long-term trajectory. Futures contracts expiring in March 2025 are priced at $101,992, while June and September 2025 contracts climb higher to $104,948 and $107,690, respectively, showcasing a pronounced upward-sloping futures curve.

This premium over Bitcoin’s current spot price of $97,200 highlights market expectations of sustained six-figure pricing for Bitcoin throughout 2025. Deribit’s options data further underscores this bullish sentiment, with the $100,000 strike call options accumulating significant open interest exceeding $2 billion in notional value.

Interestingly, shorter-term futures set to expire in December remain below the six-figure mark, as do institutional-centric CME futures. This divergence suggests varying levels of bullishness across different timeframes and market segments, pointing to a complex interplay of short-term caution and long-term optimism.