Main cryptocurrency Bitcoin (BTC) has been moderately stagnant in February, trading below $100,000.
No topic Bitcoin’s stagnant building, investors’ bullish expectations reside alive.
In accordance with option info, investors continue to position bullish bets. At this point, in line with Amberdata, the $110,000 call option became once the most preferred option by investors on Deribit this month.
The $110,000 call option expiring on March 28 became once the most smartly-appreciated option amongst investors, with investors paying over $6 million in premiums for bullish calls, the suggestions confirmed.
Speaking to Coindesk, Amberdata derivatives director Greg Magadini acknowledged that the most energetic alternate became once the $110,000 option purchases due on the raze of March.
Magadini said that though there became once particular info for Bitcoin during the month, such as the Abu Dhabi investment, renewed macroeconomic negativities such as the above-expectation CPI and PPI info from the US restricted BTC’s upward capacity.
“There had been some bullish info for BTC last week, nonetheless it did no longer translate accurate into a right upward push in space costs.
Combine the Abu Dhabi Bitcoin investment info with the bearish memecoin market dart such as the LIBRA fall, pump-fun craze, and the rising present of altcoins, and I discover this market as stagnant.
On the other hand, investors continue to impeach an lengthen.”
*This will not be any longer investment advice.
