🟦Experts point out a high likelihood of lower trading levels in the Bitcoin options market. This is due to traders reaching an implicit consensus on a potential price pullback for the leading cryptocurrency and altcoins.
🟦Analysts at QCP Capital have also adopted a more cautious outlook on the market but still anticipate Bitcoin’s rise to the $100,000–$120,000 range. They highlighted the selling of calls and the purchase of puts by major players as a strategy for hedging risks.
🟦Among altcoins, XRP has stood out with an 18.6% surge over the past 24 hours. The token is highly sensitive to news surrounding the potential resignation of Gary Gensler as SEC chair.
🟦The cryptocurrency market remains tense, and investors should be prepared for possible price volatility.