Bitcoin Pulls Back After Breaking $100,000: Market Anxiety Intensifies, Demand for Put Options Increases
Bitcoin experienced nearly a 7% pullback after breaking through $100,000, leading to heightened market tension. Particularly in the futures market, demand for put options at $95,000 and $100,000 has surged, reflecting investors' concerns about a pullback. Some analysts believe that this pullback is in line with normal market adjustment expectations and does not affect Bitcoin's long-term prospects.
Meanwhile, financing rates have soared to historical highs, indicating extremely strong market expectations for Bitcoin. Although it may face adjustments in the short term, the eToro analysis team believes this is merely a correction in a bull market, with further upside potential in the future.
Top investment institutions such as Bernstein and Standard Chartered remain bullish on Bitcoin, predicting it could break $200,000 by the end of 2025. Venture capital mogul Tim Draper even predicts that Bitcoin will reach $250,000 by 2025.
Overall, while the short-term pullback has increased market uncertainty, investor sentiment towards Bitcoin's long-term bullish outlook remains strong.
