📊 INSIGHT: $BTC Has a 50-50 Chance of Reaching $100K by Year-End: Options Data

📈 Nearly half of Bitcoin options traders are betting on a six-figure price by the end of 2024, with some even eyeing a surge to $150K, despite the recent pullback to $90K, on-chain data reveals.

🔹 Rising Confidence: Nearly half of Bitcoin options traders are eyeing a six-figure BTC price by the end of 2024, with 45% now betting on a rise beyond $100K—up from 34% last week. A smaller but notable 4% see the possibility of a surge to $150K, according to Nick Forster, founder of an onchain options DeFi protocol.

🔹 Demand for Calls: Data shows 41.3% of options contracts are calls betting on price increases, while 38.3% are puts anticipating declines. Forster notes this reflects "strong market appetite for both upside potential and downside protection."

🔹 Current Market Status:

BTC Price: $93,089 (down from its near $100K peak of $99,541).

Probability Outlook by 2024 Year-End:

68% chance of trading between $81,493 and $115,579

5% chance of dropping below $70K or rising above $137K

🔹 Analyst Caution:

Ki Young Ju, CEO of CryptoQuant, warns of possible -30% pullbacks even in bull markets, as seen in the 2021 cycle.

Plan C, a prominent analyst, welcomes consolidation in the $90K range, suggesting it could "extend the bull market’s longevity." #Bitcoin❗