Bitcoin Options Tease $34K BTC Prices: Analysts Confirm Rally
Adekunle Joshua
The data from options show that Bitcoin could move quickly towards $32k and then towards $34k.
Experts are also predicting a quick price move.
Bitcoin Options have surged in the last 48 hours.
Derebit Bitcoin derivatives data shows that option open interest had surged by 2.18% and overall open interest has surged by 6.59% by press time. However, options open interest has declined by about 40%.
Derebit, the largest Bitcoin derivatives exchange has witnessed a large reduction in options open interest volumes.
Bitcoin prices have been very dull since the last month. There was a downward move towards $28,000 but the prices recovered soon confirming that $28,000 is a strong support.
Experts like Cathie Wood predict a $150k Bitcoin with institutional investment.