Analyst: Bitcoin options traders eyeing call options above $80,000

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ODAILY
a day ago
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Odaily Planet Daily Report: An analyst said that Bit currency option traders are increasingly focused on call options with strike prices above $80,000 that expire in November. The market expects two important events to occur next month: the US presidential election on November 5 local time and the Federal Open Market Committee (FOMC) interest rate decision on November 8. Bitwise Europe Research Head André Dragosch said: "The Bit currency option contracts with the largest open interest are those expiring on November 8, the day of the FOMC meeting and a few days after the US election, clearly biased towards call options. This supports the hypothesis that Bit currency option traders are generally preparing for a bullish outcome." The market generally expects the Federal Reserve to announce a 25 basis point cut in the federal funds rate at its November 8 meeting, with a 90.2% chance of a rate cut. A rate cut may increase risk appetite in the broader market, and traders appear to be positioning accordingly in the cryptocurrency market. (The Block)

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