Despite the lower spot price overnight, data suggests considerable institutional interest in December 2024 $100,000 calls.
This indicates an even stronger confidence in a year-end rally for the world’s largest crypto, particularly as the likelihood of former US President Donald Trump’s victory rises.
Sizeable Institutional Interest
In its latest update, crypto trading firm, QCP Capital said that Bitcoin price action has been resilient despite ongoing challenges such as the continued Mt. Gox supply and declining equities. This stability might indicate that the market has largely overcome its previous concerns.
Perpetual funding rates have normalized, volatility is decreasing, and Bitcoin appears to have settled back into its familiar trading zone of $61,000 to $71,000, where it remained throughout Q2. In the near term, the asset’s spot price might continue to range within this band, particularly with dealers…
