By Zoltan Vardai
Bitcoin’s path to $80K fueled by bullish derivatives trends
Bitcoin derivatives markets are setting up for a potential BTC rally above $80,000 before the end of 2024, fueled by excitement over a potential Trump victory.
Bitcoin may surpass $80,000 by the end of 2024 as derivatives markets and holder profitability show significant bullish signals, according to a report from crypto exchange Bitfinex shared with Cointelegraph.
price could be heading above $80,000 based on the structure of the derivatives markets, Bitfinex analysts told Cointelegraph, with options markets showing potential for a post-United States election rally. They added:
“Options market positioning indicates that over the past few weeks, end-of-year options have seen a significant rise in call open interest. The December 27th expiry and calls with an $80,000 strike price have been the primary areas of interest.”