Analysts: If Bitcoin breaks through $80,000, the options market may reignite bullish sentiment.

This article is machine translated
Show original
According to Mars Finance, on May 24th, Greeks.live analyst Adam posted on social media that BTC's V-shaped rebound over the weekend was mainly driven by news related to the US and Iran, and he expects it to continue to have some stimulating effect after the US stock market opens. He pointed out that from the perspective of BTC options trading, the Gamma constraint has weakened after this week's settlement, and the $78,500 level remains the biggest pain point and a watershed between bulls and bears. If BTC can hold the $77,000-$78,000 range, it will likely maintain a slightly bullish trend; if it breaks through $80,000 with significant volume, call options may reignite market buying sentiment. Currently, short-term implied volatility (IV) remains low. Considering the strong market volatility expected recently, it is more suitable to control costs through strategies such as call spreads and put spreads, or wait for BTC to break through $80,000 or fall below $77,000 before adding to positions.

Source
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
Like
82
Add to Favorites
12
Comments