Bitcoin (BTC) has surpassed $41,000, a level not seen since April 2022, prompting analysts to predict a 10% return on market-neutral strategies like the basis trade. This strategy involves buying Bitcoin in the spot market and selling futures at a premium. Deribit reports that futures contracts are trading at an 8% to 12% annualized premium, indicating potential returns in that range, excluding trading costs. The surge in Bitcoin's value, which has risen 54% since October 1, is attributed to several factors including the anticipated launch of spot-based ETFs in the U.S., geopolitical tensions, Binance's legal settlement, and increased institutional engagement. Despite the positive trend, some analysts, like ex-Ark Invest's Chris Burniske, expect the crypto market's momentum to slow down.