Bitcoin Futures Premium Does Not Establish a Spot-Price Floor

Bitcoin (BTC) futures traded above Deribit’s perpetual contract on Sunday, Nov. 1, with annualized premiums near 5.5% to 5.8% through September 2027. The spread describes futures pricing at that moment but does not establish a floor for Bitcoin’s spot price. At 3:10 p.m. ET (20:10 UTC), the perpetual contract’s mark was $77,730.16. The dated futures in the snapshot ranged from $78,029.84 for the Nov. 27, 2026, contract to $81,682.63 for the Sept. 24, 2027, contract. The Nov. 27 contract carried a 0.39% premium over the perpetual mark and a 5.52% annualized basis. For the Dec.