Bitcoin recently made headlines by briefly surpassing the $100,000 mark for the first time in its history, but its momentum stalled as it dipped back below this level.
Despite ongoing market optimism that Bitcoin will continue climbing, one analyst suggests that a substantial rally is unlikely until the new year.
According to Sean Dawson, head of research at the DeFi derivatives platform Derive, the probability of Bitcoin reaching $150,000 by January 2025 remains quite low, with a mere 6% chance of surpassing that figure.
Dawson explained to Decrypt that current data from the derivatives market shows minimal upward momentum for Bitcoin in the near term.
He also highlighted Ethereum’s potential, with a 10.5% chance of hitting $6,000 by the end of January. These figures are derived from the behavior of the derivatives market, where the 25 delta curve – a metric for assessing market bias between call and put options – has remained steady, indicating that investors’ expectations for price movements have not significantly changed recently.
This stability suggests that, for now, market participants are not anticipating a dramatic shift in price direction.
A major Bitcoin investor has placed a high-stakes bet on a short-term price drop, committing hundreds of millions of dollars just as a crucial week of economic reports looms.
21Shares has decided to shut down its Bitcoin and Ethereum futures ETFs, with liquidation expected to take place by March 28.
On Friday, Bitcoin’s price surged toward the $84,000 level, briefly surpassing $85,000, lifting the spirits of the crypto community.
Binance Research, the investigative branch of the leading cryptocurrency exchange, has released an insightful new study about Bitcoin (BTC).