💰💰💰Many people are wondering whether Bitcoin will surpass $74,000
Just a few time ago, derbit's highest transaction volume leaned toward calls, with strike prices reaching $80,000 at the month's close. A total of 1,723 contracts were reached, with an estimated value exceeding $123 million.
Analyst Neil Roarty believes that increased investment in spot bitcoin ETFs is the primary cause of the massive increase. According to his interpretation, the higher influx indicated an increase in demand from the institutional sector. How long this trend lasts, with institutional investors maintaining their bullish stance, is an open question.
Interest rates are the deciding factor for large-scale financial institutions. As a result of its decline, other investment opportunities will have to wait for the moment to shine. It seems like Bitcoin is now benefiting from a favorable breeze.
Reducing the interest rate is being considered by an institution associated with the US. The Bank of Canada lowered its benchmark interest rate by 25 basis points, bringing it to 4.7%. When it comes to reducing inflation, the Ottawa-based central bank is on board with this plan.
