Deep Tide TechFlow news, on November 27, according to Cointelegraph, on-chain data shows that nearly half of Bitcoin options traders are betting that the price of Bitcoin will break $100,000 by the end of 2024, with some even predicting it could rise to $150,000. Nick Forster, founder of the on-chain options DeFi protocol, pointed out in a market report on November 26 that the probability of Bitcoin breaking $100,000 has risen from 34% last week to 45%, while the probability of breaking $150,000 is 4%.
Derive data shows that 41.3% of options trades are call options, 38.3% are put options, and 'sellers are very few'. As of the time of writing, the price of Bitcoin is $92,680, down about 7.02% from a previous near $100,000 high. The data indicates that by the end of 2024, there is a 68% probability that Bitcoin will retrace to $81,493 or rise to $115,579, while the probability of dropping below $70,000 or rising to $137,645 is only 5%.
Nevertheless, some analysts have not ruled out the possibility of a larger correction. CryptoQuant CEO Ki Young Ju stated that even in a 'parabolic bull market', Bitcoin could experience a correction of up to 30%.
