Happycoin.club - Employees of the trading company QCP Capital reported that options traders continue to predict an increase in the Bitcoin rate, contrary to the recent dump.
Over the past 24 hours, the rate of BTC and most other leading cryptocurrencies in terms of capitalization has fallen sharply. For this reason, long and short positions for the purchase of digital assets in the amount of $262.6 million were liquidated.
Bitcoin owners are worried about the fact that the bears again managed to overcome the resistance barrier at $60,000 and break through a new bottom. On July 4, the price of the coin dropped to $57,892 on the Bitstamp exchange, thus falling below the minimum of $58,466 recorded on June 24.
The last two bottoms on the Bitcoin exchange rate chart
Despite the coin sell-off, options market participants are betting on an upward move as traders expect a bullish rally to start towards the end of the year.
This is confirmed by the large volume of open long-term options to buy bitcoins at a rate of $100,000 to $120,000, said QCP Capital specialists.
Judging by historical data, the price of Bitcoin will go up in mid-July and during the pump, which will last until March 2025, will rise to approximately $180,000. In this case, buying coins at the current price of $58,893 will more than triple your capital.
