Galaxy

Bitcoin

April

Bitcoin exceeded $50,000 as it continued its strong rise that started last week.
While this rise in BTC caused investors' risk appetite to increase, Deribit data revealed that investors expected a new ATH in Bitcoin.
According to Deribit data, there have been serious purchases in options priced at $65,000, $70,000 and $75,000 in recent days.
It was stated that call options at this level indicate that investors have bullish expectations, while bulk call options at high levels reflect the upward trend among experienced investors.
Speaking to Coindesk at this point, Galaxy America Sales Manager Kelly Greer stated that they see similar high levels of density in the last quarter of 2023 and said:
<blockquote>
 “We are seeing a concentration of open interest in $50,000 calls. We also saw flows in $50,000, $60,000 and $75,000 call options in listed options markets from April through June.
 These flows indicate that investors have a constructive view on Bitcoin and expect further upside in BTC.
 We experienced this situation in the last quarter of 2023. We saw a similar increase in call options in the last quarter of 2023, and there was a similar concentration of activity at the $30,000 and $40,000 levels. “These higher levels of calls paved the way for the price increase.”
</blockquote>
<h2 id="investors-should-be-careful">“Investors Should Be Careful!”</h2>
Apart from Greer, FxPro's senior analyst Alex Kuptsikevich also evaluated Bitcoin.
Stating that Bitcoin's 14-day RSI value rose above 70 and gave an “overbought” signal, Alex Kuptsikevich stated that this could mean that the trend could reverse and BTC could pause its rise.
<blockquote>
 “Bitcoin posted a seventh consecutive day of gains, but strength slowed over the weekend.
 It also coincided with a move above 70 in the RSI on daily time frames. This may increase investors' appetite for short-term profits.
 Investors need to be careful.”
</blockquote>
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/risk-appetite-increased-in-bitcoin-new-ath-expectations-increased/" rel="noopener noreferrer nofollow">Risk Appetite Increased in Bitcoin, New ATH Expectations Increased!</a>

Risk Appetite Increased in Bitcoin, New ATH Expectations Increased!

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