According to Analysts, New Bitcoin Buying Has Begun, But Bears Still Dominate the Market! – The Feared Level Could Be Reached This Month! Heres...
Bitcoin continues to experience sharp declines, falling below $58,000 for the first time in a long time. These declines are attributed to rising inflation concerns, a more hawkish Fed, and a strengthening dollar in recent weeks. At this point, the situation for Bitcoin is worsening, and this is reflected in the options market. According to the data, there is an increase in bets in the options market on $BTC falling to $50,000. According to analyst Omkar Godboles analysis, investors in the Bitcoin derivatives market are taking positions expecting a further decline in price rather than an increase. The analyst noted that Bitcoin, after recently falling to as low as $57,700, has partially recovered to around $58,800, while open positions have risen to 768,000 $BTC. At this point, the analyst noted that put options, which are bets on a price decrease in the options market, are priced higher than call options across all expiry dates. According to Paradigm trading desk data, demand for the $50,000 Bitcoin put option with a September expiry date has increased. In conclusion, according to the analyst, this positioning indicates that investors have increased the likelihood of $BTC falling below $50,000 by the end of the third quarter. Investors Have Started Accumulating, But