 ▲ Bitcoin (BTC) |
Cryptocurrency leader Bitcoin (BTC) is trading in the $64,000 range on the 21st (local time).
According to CoinMarketCap, as of 5:20 p.m. on this day, the price of 1 Bitcoin was $64,285, down 2.17% from 24 hours ago.
Bitcoin fell from a high of $66,451.77 to a low of $64,165.95 on the day.
Michaël van de Poppe, a famous cryptocurrency analyst, said through
CoinDesk diagnosed that despite the recent decline in Bitcoin price, options traders are betting on BTC price rising.
In the past 24 hours, there was a large purchase of BTC call options expiring in December and March next year in the Deribit options market. The event price is 90,000 to 100,000 dollars.
In relation to this, QCP Capital, a Singapore-based cryptocurrency trading company, analyzed, "The current market is positioning with the expectation that the rally will continue until next year after the bottom has been reached."
Meanwhile, Cointelegraph cited data from Santiment, a cryptocurrency on-chain analysis platform, and said that the Weighted Sentiment Index, an indicator measuring the positive/negative ratio in X posts and comments mentioning Bitcoin, has been negative since May 23. reported.
Multiple traders and analysts said, “Bitcoin is currently trading sideways for 150 days after the halving. “This is the most boring period in a bull market, and generally the longer the sideways trend, the bigger the rally can be expected,” he said.
