Traders in the Bitcoin (BTC) options market are positive in the long term. This while the spot price is struggling to conquer the zone around $11,000.
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Market researcher Skew has analyzed the options that will expire in the next 3 and 6 months. The intermediate position: there is more demand for call options than put options, a bullish signal.
So if you are now speculating on a higher Bitcoin Bank price over 6 months, as a trader you are willing to pay a premium. This premium is now 11% higher for a call option compared to a put option.
Despite the dip in early September from $12,000 to ~$10,000, the sentiment remains positive.
The volatility between the 25d put and the 25d call with the same expiration. Source: Skew
On the spot market, Bitcoin keeps a reasonable low profile. Should the price break out of the consolidation zone, is the question analyst John van Meer asked himself this morning. CryptoTargets also sees the necessary bearish signals on the 4-hour chart.
CryptoDog does not find the current market very interesting.
According to Immortal Technique a short position might be obvious, but Bitcoin can surprise as always.
What might help is that the 180-day volatility is at its lowest point in 23 months.
A sustained consolidation phase combined with few price fluctuations usually ends with a ‚bold move‘ of the price.
Influence of BitMEX
The fact that the U.S. authorities are now intervening at BitMEX still has an impact on the market, says Willy Woo. This analyst sees more of an influx of new investors on the Bitcoin blockchain.
But according to Woo, that effect has not yet been included in the spot price.
However, there are other sounds. Like Marc Chandler, strategist at forex trading house Bannockburn and expert on the forex market.
Because of the global corona crisis and the upcoming American elections, there is uncertainty in the financial markets. In times of uncertainty, investors flee to cash. the dollar. And that uncertainty would put a brake on the demand for assets such as Bitcoin, gold and oil.
Chandler ignores inflation and the fact that government bonds no longer yield much or nothing.