Bitcoin is back on the rise, but like a cat stuck in a tree, it just can't seem to claw past the $98,000 branch. đ± Traders are optimistic after a dizzying drop from its $108,275 high, with futures showing a healthy 12% premiumâindicating a strong appetite for long positions.
Options are playing it cool, with puts trading at a 2% discount, suggesting no major correction fears. Meanwhile, Bitcoin's correlation with the S&P 500 is a cozy 64%, as both markets enjoy a festive bounce.
Despite some stagnation jitters, Bitcoin's margin markets are flexing their muscles, hinting at a potential rally to $105,000. Hold onto your hats, crypto enthusiasts!
