$2.52B in bearish Bitcoin options signal pro traders are hedging their bets
Cointelegraph
Published Apr 06, 2021 01:54PM ET
Updated Apr 06, 2021 03:40PM ET
Bitcoin (BTC) has been trying to break the $60,000 resistance for the past 23 days. Generally, investors don’t seem too worried about this as they consider it a healthy consolidation period, and even recent analysis from JPMorgan Chase (NYSE:JPM) estimates that BTC price will reach $130,000.
Even as most investors expect Bitcoin price to rise above $100,000, derivatives data shows $2.52 billion worth of ultra-bearish options from the $40,000 to $50,000 range?
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Written By: Cointelegraph
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