Bitcoin’s Options Market Shows Strongest Bullish Mood on Record
Bitcoin's options market is in the midst of its strongest bullish sentiment on record as the cryptocurrency rallies to three-year highs.
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Options data shows pro traders are not confident that Ethereum price will follow Bitcoin’s rally to new 2020 highs. This week Bitcoin (BTC) and Ether (ETH) prices reached new highs as a slew of bullish news continued to pump investors’ hope that the next crypto-bull market will mirror the one seen in 2017. Many novice traders simply follow spot prices on the major crypto exchanges to gauge the direction price might take. However, reviewing options markets data can provide additional relevant insights on market sentiment. Looking at the most recent activity in Bitcoin options, it is clear....
Bitcoin has fallen through its recent support at $53,000 as volatility picks up before a record options expiry event. Bitcoin’s (BTC) price has been in retreat, down 20% since the recent all-time high at $62,000 in mid-March. As crypto markets are frequently volatile, this may very well be another normal pullback within the current bull cycle. Corrections are needed to generate strength for further upward momentum as markets can’t go up in a straight line. Additionally, a record $6 billion expiration of options is expected on March 26, which often brings some volatility. It is also quite....
Bitcoin’s price is turning bullish as ether options traders accumulate half a million of ETH options for December expiration.
Bitcoin's rally above $56,000 shifted Friday's options expiry entirely in favor of bulls After a 160% increase over the past 3 months, the open interest on Bitcoin (BTC) options reached a new record-high at $12 billion. While this number might seem unusually high, it makes sense that the figure would increase as Bitcoin’s market capitalization surpassed $1 trillion. Deribit BTC options open interest in USD. Source: laevitas.chAlthough Friday's $3.2 billion expiry could negatively impact the market, these options are split among calls (neutral-to-bullish) and the more bearish put options.As....
Bitcoin has maintained its superiority in the market through the bull rally. Through the summer, bitcoin remains the strongest performer in the market. But the altcoins remain hot on its heels as prices rebound from two-month lows. Despite being the strongest performer of the summer, the DeFi space beat out Bitcoin to post the strongest recovery after hitting lows in July. Related Reading | Bullish Signal That Resulted In A 250% Increase In Bitcoin Is Getting Triggered Again A look back from June shows that bitcoin has outperformed ETH, as the price of the asset is up 25%. The digital....