Upbeat bitcoin options market points to $40,000 being the bottom

Investors searching for clues about where bitcoin is headed next may want to take a look at what the options market is signalling.

The skew, or difference in implied volatility of bullish and bearish bets, has recently dropped from double-digits to near zero, and revealed a decrease in investor demand for put options and an increase for call options, Genesis data show.A bottom at $40,000 is a view echoed by many analysts in the famously optimistic world of crypto.

The $40,000 level “has been the key pivot point”, said Bloomberg Intelligence’s Mike McGlone. Up next, $50,000 comes into play before bitcoin resumes its upward trend towards his forecast of $100,000, he said.

Nederland Laatste Nieuws, Nederland Headlines

Similar News:Je kunt ook nieuwsberichten lezen die vergelijkbaar zijn met deze die we uit andere nieuwsbronnen hebben verzameld.

These were the 5 best performing cryptos over the past week amid bitcoin bear marketKeeping an eye on the weekly winners can help investors identify which coins are beginning to see increased traction in the crypto community.
Bron: BISouthAfrica - 🏆 34. / 51 Lees verder »