- Bitcoin investors are reportedly anticipating a surge in the cryptocurrency’s price to $75,000 this summer, according to crypto analysts.
- A significant portion of options contracts set to expire at the end of June have been purchased for $75,000 contracts, says Ruslan Lienkha, Market Director of Cyprus-based YouHodler exchange.
- Lienkha’s analysis is further evidenced by the $75,000 contracts on Deribit, but he suggests that Bitcoin may continue to hover at its current levels for several weeks.
Bitcoin investors are gearing up for a potential surge to $75,000 this summer, with a significant portion of options contracts set to expire in June purchased for this price point. However, the cryptocurrency may continue to hover at its current levels for several weeks.
Bitcoin Investors Anticipate Summer Surge
As per crypto analysts, Bitcoin investors are reportedly expecting a significant price surge in the cryptocurrency this summer. According to Ruslan Lienkha, Market Director of the Cyprus-based YouHodler exchange, a large portion of options contracts that are set to expire at the end of June have been purchased for $75,000 contracts. This suggests that investors are betting on a substantial increase in the value of Bitcoin in the coming months.
Options Contracts Indicate Investor Confidence
Lienkha further elaborates that the number of call options far outweighs put options. This indicates that many options investors are expecting Bitcoin’s price to break new records by the end of June. This analysis is further corroborated by the $75,000 contracts on Deribit, a popular cryptocurrency futures and options exchange. The data from these platforms provides a clear indication of the bullish sentiment among Bitcoin investors.
Potential Stagnation in the Short-Term
Despite the bullish long-term outlook, Lienkha suggests that Bitcoin may continue to hover at its current levels for several weeks. This prediction is based on the current market trends and the historical performance of the cryptocurrency. However, it is important to note that the crypto market is highly volatile and subject to rapid changes. Therefore, investors should exercise caution and conduct thorough research before making any investment decisions.
Conclusion
In conclusion, Bitcoin investors are gearing up for a potential surge in the cryptocurrency’s price this summer, with a significant portion of options contracts indicating a price point of $75,000. However, the cryptocurrency may continue to stagnate at its current levels for several weeks. As always, investors are advised to stay informed and make investment decisions based on thorough research and analysis.
