Bitcoin traders bet on a rally above $80,000
Many traders expect bitcoin to recover toward the $80K level between June and September, Derive said.
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Many traders expect bitcoin to recover toward the $80K level between June and September, Derive said.
Traders are positioning for a rally to record highs after President-elect Donald Trump takes office on Jan. 20
Short-term BTC puts are in demand after hawkish Fed dented the bullish sentiment in risk assets.
One market observer noted “very concentrated call buying” looking to profit from a rally to between $74,000 and $80,000 by the end of this month.
BTC losing the significant price level after a month is likely just a short-term deviation based on derivatives trading data, SynFutures CEO said.
Next week’s U.S. central bank interest rate decision and the bitcoin options expiry are unlikely to move markets, which have been stuck for weeks.