Bitcoin
Dealers are increasingly pursuing higher -level call options on dismissal and signaling that they are preparing for renewed bullish award volatility.
“VOLS remains attached near historically low but a crucial violation of the $ 110,000 resistance can trigger a renewed volatility bid. Some major players seem to be placing for just that,” Singapore-based QCP Capital said in a market update.
“They continue to add exposure for September $ 130K calls, while the steadfast has September $ 115/$ 140,000 calls spreads, emphasizing a structural bullish Q3 Outlook,” added QCP.
A call opportunity gives the buyer the right, but not the obligation, to buy the underlying asset at a predetermined price of or before a specific date. A call buyer is implicit Bullish on the market. In other words, buyers of $ 130,000 strike call expect BTC’s spot price to rise above this level.
BTC’s price has been fixed between $ 100,000 and $ 110,000 for over 50 days as sales of wallets with a history of keeping coins in the long term counteracting ETF flow.
Volatility may depend as the foot fed June must be released on Wednesday. Furthermore, the 90-day customs break for many US trading partners has reportedly been expanded to August 1st.
