Bitcoin
Merchants pursue more and more higher level purchase options in Deribit, indicating that they are preparing for the renewed volatility of the prices achieved.
“The vols remain trapped near historical minimums, but a decisive violation of the $ 110K resistance could generate a renewed volatility offer. Some larger players seem to position themselves for that,” said the CCP capital based in Singapore in a market update.
“They continue to add exposure to the calls of $ 130K in September, while firmly possesses the calls of calls of $ 115/$ 140k of September, underlining a structurally bullish third quarter trimester,” added QCP.
A purchase option gives the buyer the right, but not the obligation, to buy the underlying asset at a predetermined price on a specific date or before. A call buyer is implicitly optimistic in the market. In other words, buyers of the strike call of $ 130,000 expect the BTC spot price to exceed that level.
The BTC price has been stuck between $ 100,000 and $ 110,000 for more than 50 days, since the sale of wallets with a history of retention coins for long -term ETF tickets.
Volatility can take up soon, since the minutes of the June Fed will be launched on Wednesday. In addition, the 90 -day rate pause for many US business partners has spread to August 1.
