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According to the Wise Finance APP, options traders are betting that Bitcoin will surge to $50,000 before January next year. Many market observers expect that by then, the U.S. Securities and Exchange Commission (SEC) will ultimately approve the Bitcoin spot ETF. Based on data compiled by Deribit, the largest cryptocurrency options exchange, this is the price level of Bitcoin's largest open interest in call options, which expire by January 26th. The last time Bitcoin reached $50,000 was in December 2021 when digital assets were falling from historic highs as the Federal Reserve began to scale back the record stimulus measures implemented during the COVID-19 pandemic. Now, with the market anticipating the Fed's adjustment of monetary policy next year and the likely approval of the Bitcoin ETF, the cryptocurrency industry is witnessing a remarkable rebound. "Bullish sentiment is on the rise," said Luuk Strijers, Chief Commercial Officer of Deribit. Since mid-October, the price of Bitcoin has risen by more than 60%, with speculation that the SEC is about to approve ETF applications from asset management giants like BlackRock. As of the time of writing, the token's price is hovering below $44,000. Data from the research firm CCData shows that the total trading volume of spot and derivatives transactions on centralized exchanges grew by 40.7% in November to $3.61 trillion, reaching the highest level since March of this year. |
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Post time 12-12-2023 23:33:02
