Bitcoin (BTC) is approaching the significant $100,000 milestone, a level that holds considerable psychological importance for investors. Matt Mena, a crypto research strategist at 21Shares, notes that this price point may prompt long-term holders to consider selling, potentially leading to increased market volatility.
Mena observes that options traders are preparing for potential price fluctuations, with a notable number of contracts set to expire in December targeting a decline to $80,000. This indicates a cautious sentiment among some market participants regarding Bitcoin's short-term trajectory.
Despite these concerns, Mena remains optimistic about Bitcoin's performance in the coming months. He anticipates that the holiday season could act as a catalyst, propelling Bitcoin's price into the $110,000 to $120,000 range before the year's end.
