💥💥💥 #Bitcoin’s Bold Bet: Options Traders Eye $100K Surge By September
The #cryptocurrency market is buzzing with anticipation as Bitcoin options traders position themselves for a potential September price rally, with many betting on Bitcoin surpassing $100,000.
Recent analysis by industry experts reveals a significant shift in Bitcoin options sentiment, with call options (options to buy) now commanding higher prices than put options (options to sell). This shift indicates growing optimism among traders, with a preference for call options, particularly those with ambitious strike prices of $75,000 and $100,000 for September.
Data from the Deribit derivatives exchange confirms this trend, showing high volume for call options with a strike price of $110,000 for the end of September. This enthusiasm in the options market suggests a bullish outlook for Bitcoin, with expectations of a significant price uptick by the end of the third quarter.
However, there are concerns regarding potential short-term volatility, highlighted by actions from Bitcoin whales. The whale ratio on exchanges, indicating the amount of Bitcoin large holders are moving to exchanges, has increased, suggesting that major players may be considering selling, potentially introducing heightened sell pressure into the market.
Despite these short-term concerns, the broader Bitcoin market has displayed signs of recovery after a decline from its peak above $73,000 in March. Bitcoin has shown resilience with a 5.8% increase over the past week and a 2.8% rise in the last 24 hours, bringing its trading price to around $63,791 at the time of writing.
#MicroStrategy 's #MichaelSaylor sees regulatory rejections of spot ETFs for other cryptocurrencies as a potential catalyst for Bitcoin's price. He believes this could strengthen Bitcoin's position as the leading digital asset, attracting more institutional investments and solidifying its status as the 'steel' of the crypto world.
Source - newsbtc.com
