The cost of Bitcoins has risen, accompanied by a significant hike in its anticipated swings in value for several key terms. Daily volatility surged by nearly 80%, suggesting that price instability may heighten in the coming days.
Due to the recent surge in market volatility, there’s been a noticeable shift in investor sentiment. More and more traders are now adopting optimistic positions, expressing their confidence in the market’s upward trend.
Additionally, the daily trading volume of Bitcoin experienced a significant increase of nearly 80% today, suggesting greater market involvement and the entry of more investors. This influx of new participants fuels the optimistic outlook for Bitcoin’s price trend.
The significant fluctuation in prices of top cryptocurrencies poses a challenging situation. While the upward trend could signify a bull market and lure fresh investors looking for profitable returns, it also amplifies risks for existing ones.
Bitcoin surprised everyone by shattering the $70,000 barrier unexpectedly, nearing a new record high. The sudden surge caused all significant volatility indices to increase noticeably, with Bitcoin’s implied volatility now exceeding 78%. Market sentiment has shifted dramatically, favoring long-term investments. Over 600 Bitcoins are worth over $100,000 each at the current price.
— Greeks.live (@GreeksLive) April 8, 2024
On the other hand, the notable rise in IV use warrants a note of warning. The market forecasts volatile price fluctuations, with potential for significant gains as well as losses.
The ongoing bullish trend in the market is making investors even more hopeful with the upcoming crypto halving. Historically, these halving events reduce the number of new Bitcoin being created, which could increase its worth due to its limited availability. This occurrence often leads to a significant price rise and setting new record highs for Bitcoin.
Call Options Signal Bullish Outlook: Will Bitcoin Break $100,000?
Lately, there’s been a noticeable increase in optimistic views among cryptocurrency investors, most notably towards Bitcoin.
A significant purchase of over 600 Bitcoin call options worth around $45 million, with premiums totaling $8.5 million, underscores traders’ belief that Bitcoin could hit or exceed the $100,000 mark. This trade reflects the growing optimism within the market.
In the meantime, Bitcoin’s value increased by 5% today, breaking through the $71,000 mark, which added fuel to the growing optimism. This trend was supported by over half a billion dollars flowing into Bitcoin spot ETFs in the last week, suggesting a rising appetite for Bitcoin as a valuable investment option, akin to gold.
Anticipation On Halving Grows
As the halving event approaches, excitement builds among investors and onlookers about the possibility of reaching new highs and possibly surpassing the $100,000 mark.
The increasing belief that Bitcoin will reach new highs is reflected in the large volume of $100,000 call option trades, demonstrating the market’s faith in Bitcoin’s ability to grow further.
The current cryptocurrency market is experiencing a strong positive feeling, especially towards the leading crypto asset. This positivity is driven by several reasons: Bitcoin’s recent price increase, growing attention to Bitcoin ETF proposals, and excitement for the upcoming Bitcoin halving.
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2024-04-09 13:11