Bitcoin (BTC) started the new week on the rise, while trying to fight the downward trend it has been experiencing for weeks. Bitcoin is showing signs of recovery as expectations for a December interest rate cut have risen to 75% following the Fed's moderate statements. With the recovery in Bitcoin, options markets have also started to point upwards again. At this point, Singapore-based analysis firm QCP Capital said that option investors have not given up on the rise. The analysis firm stated that in the options market, there are more call/buy options (higher price) than put options (lower price). At this point, analysts said year-end call options are concentrated at $85,000, $120,000, $130,000, $140,000 and $200,000. QCP analysts said it was a sign that investors were taking positions in the options market and that the bull market remained bullish. Investors are still taking bullish positions in derivatives markets. The most traded call options range from $85,000 to $200,000. Year-end options still outweigh put options, with top strikes at 85,000, 120,000, 130,000, 140,000, and even 200,000. Analysts stated that this week's US macro data will reveal whether this recovery is just a hoax or the beginning of a new uptrend, and that this data will be a significant turning point for the cryptocurrency. Analysts stated that the key indicators to watch are the Producer Price Index (PPI), Personal Consumption Expenditures (PCE) price index and Gross Domestic Product (GDP) figures. *This is not investment advice. Continue Reading: Options Bulls Still Expect Bitcoin to Rise! These Levels Are Expected by Year-End!
