Summary
- Bitcoin has reclaimed the $78,000 level and is up about 18%% from a month earlier.
- The options market puts the odds of Bitcoin breaking above $84,000 by the end of May at 25%%.
- Demand for put options is higher than for call options, suggesting investors are more focused on protection against downside moves.
Forecast Trend Report by Period
Bitcoin has regained the $78,000 level and continues to show strength, but investor expectations for further gains remain limited.
As of 3:13 p.m. in Korea on May 2, Bitcoin was trading at $78,234, up 1.38% from a day earlier. The cryptocurrency is up about 18% from a month earlier.
Still, caution prevails in the options market despite Bitcoin’s recent rally. Cointelegraph, citing Deribit Bitcoin options data, reported that investors see roughly a 25% chance of Bitcoin breaking above $84,000 by the end of May.
Demand for put options, which give holders the right to sell, has consistently exceeded demand for call options, which give holders the right to buy, the outlet reported. That suggests investors are more focused on securing protection against a decline.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
