Lyra's decentralized BTC options marketplace believes there is a 20% chance that the price will rise above $70,000 by the end of April.
Lyra recently created options with an expiration date of April 26, allowing traders to speculate on price movements before and after the halving of the #bitcoin reward that will occur in mid-April.
According to options data from decentralized trading platform Lyra Finance, there is a one-in-five chance that bitcoin (BTC) will cross the $70,000 mark by the end of April.
Lyra founder and former Wall Street options trader Nick Froster told CoinDesk that "Lyra's marketplace suggests that there is about a 20 percent chance that bitcoin will hit an all-time high (trading above $70,000) by April 26.
Lyra traders have taken the right stance on bitcoin's recent move above $50,000. Their latest view that bitcoin is unlikely to reach an all-time high above $70,000 before the end of April may come as a surprise.
That's because bitcoin has risen 35% in three weeks to $52,000, its highest price since late 2021, signaling bullish momentum fueled by strong inflows into U. S. -based spot ETFs.
The general consensus among crypto traders is that bitcoin could continue to rise as U. S. fiscal policy remains the most stimulative in years, offsetting rising interest rates. Risk sentiment in all corners of financial markets is also supported by the fact that bitcoin #mining fees will fall to a four-year low in April and the likelihood of a global recession has fallen to its lowest level since December 2021.
Options are derivative financial instruments that give the purchaser the right (but not the obligation) to buy or sell the underlying asset at a later date at a predetermined price. A call option gives the buyer the right to buy an asset and a put option gives the buyer the right to sell.
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