Market Insider: Bitcoin may see a move towards $70,000 again
Teong Hng, CEO of cryptocurrency investment company Satori Research, said that activity in the over-the-counter options market suggests Bitcoin could soon return to its historical high. Interest is rising in call options for December 2024 with a strike price of $100,000, indicating institutional investors are becoming increasingly bullish. Teong Hng expects a strong rebound by the end of the year, with Trump's victory being a highlight. Last week, as calls for Biden to step down increased in frequency and intensity, Bitcoin performed relatively strongly compared to the sluggish stock market. In addition, Chris Weston, research director at Pepperstone Group wrote in a report: "The potential momentum behind recent inflows into Bitcoin exchange-traded funds (ETFs) suggests that the market may see Bitcoin move closer to $70,000 again."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Decentralized RWA infrastructure project Infinite Galaxy Protocol officially launches Genesis Node sale
HyperLiquid co-founder: No external fundraising has been conducted, so there are no investor HYPE token unlocks
Santiment: Stablecoin yields decline, Ethereum may soon return to the $3,200 level
Data: Ethereum staking rate reaches 28.65%, Lido market share at 24.12%