Market Insider: Bitcoin may see a move towards $70,000 again

Bitget2024/07/22 02:40

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Teong Hng, CEO of cryptocurrency investment company Satori Research, said that activity in the over-the-counter options market suggests Bitcoin could soon return to its historical high. Interest is rising in call options for December 2024 with a strike price of $100,000, indicating institutional investors are becoming increasingly bullish. Teong Hng expects a strong rebound by the end of the year, with Trump's victory being a highlight. Last week, as calls for Biden to step down increased in frequency and intensity, Bitcoin performed relatively strongly compared to the sluggish stock market. In addition, Chris Weston, research director at Pepperstone Group wrote in a report: "The potential momentum behind recent inflows into Bitcoin exchange-traded funds (ETFs) suggests that the market may see Bitcoin move closer to $70,000 again."

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