Bitcoin Traders Expect Prices to Hit $74K Highs as Selling Pressure Eases
One trading desk has seen an uptick in call buying activity with targets of as high as $120,000 for December 2024.
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One trading desk has seen an uptick in call buying activity with targets of as high as $120,000 for December 2024.
Increased transactions on the Shibarium blockchain will lead to a higher burn rate for the SHIB token, reducing its circulating supply.
The CME is already the top bitcoin futures exchange by open interest, while the offshore, non-regulated Binance dominates the spot market.
A physical representation of doge and shiba inu token. (Kevin_Y/Pixabay)
Bitcoin, the leading cryptocurrency by market value, fell by nearly 15% in April, ending a seven-month winning streak.
LRT holders can tokenize any yield-bearing strategy to generate an annualized percentage yield of 10% to 50%.
The number of active bitcoin call contracts is significantly higher than puts, indicating bullish market sentiment.
Recently, traders have sold $80,000 BTC call options expiring at the end of May to generate additional yield, one observer said.
The summer months, between June and September, have historically brought significantly lower investor returns than other months of the year, says André Dragosch, head of research at ETC Group.
The New York Stock Exchange has asked market participants to weigh in on its proposal to operate 24 hours a day, the same schedule that cryptocurrencies operate on, the Financial Times reported.