News Formal

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

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 29 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 63%

United States News News

United States United States Latest News,United States United States Headlines

The skew reveals an increase for call options may be bullish for the cryptocurrency’s price

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.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

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.
Source: BISouthAfrica - 🏆 34. / 51 Read more »