đ As we inch closer to the Bitcoin halving event, traders are on high alert. Historically, halving events have sparked bullish sentiments, but some analysts warn against overly simplistic expectations. đ§
Miners, the backbone of the Bitcoin ecosystem, often hold onto their coins, especially when they smell a bull market. This tightens the supply, potentially driving prices up. đ°
Meanwhile, the options market is buzzing. Call options are dominating, with bullish positions outnumbering bearish ones threefold at Deribit. Some are even aiming as high as $140,000 and $200,000 for the June 28 expiry. đŻ
However, Bitcoin's recent performance has caught bears off guard, making bearish scenarios linked to the halving increasingly unlikely.
So, will the halving trigger a "death spiral" for Bitcoin options? Past speculations have been debunked, and the market seems to lean towards neutral-to-bullish strategies.
What's your take? Share your thoughts in the comments! đ