bullish

Bitcoin

Bitcoin options traders are signaling strong confidence in the cryptocurrency’s potential to hit six figures by the end of 2024, with some even forecasting an ambitious target of $150,000. Onchain data reveals that 45% of traders now see a <a href="https://thecoinrise.com/bitcoins-path-to-100k-unaffected-by-u-s-election-outcome-10t-holdings-founder/" rel="noopener noreferrer nofollow">chance for Bitcoin to surpass $100,000</a>—a notable jump from 34% just last week, according to Nick Forster, founder of an onchain options protocol.
“This surge in sentiment underscores a robust appetite for both upside potential and risk mitigation in the current market,” Forster stated in his November 26 report.
Derive’s market data further supports this bullish sentiment, showing 41.3% of recent Bitcoin options contracts as call options—bets that Bitcoin’s price will rise. Meanwhile, 38.3% are puts, reflecting bearish expectations. Interestingly, trading volumes reveal “very few sellers,” suggesting limited market resistance against upward momentum.
At the time of publication, Bitcoin is <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow">trading</a> around $92,600, a 7% drop from its recent peak of $99,541. Despite the pullback, projections suggest a 68% likelihood of Bitcoin trading between $81,493 and $115,579 by the end of next year.
<h2 id="span-style-font-weight-400-caution-amid-optimism-analysts-weigh-in-span">Caution Amid Optimism: Analysts Weigh In</h2>
While many traders are focusing on Bitcoin’s upward potential, analysts are urging caution, highlighting the possibility of sharp corrections during the bull market cycle.
Ki Young Ju, CEO of CryptoQuant, <a href="https://x.com/ki_young_ju/status/1861287668602282299" rel="noopener noreferrer nofollow">pointed</a> out that even in parabolic rallies, Bitcoin has historically faced significant pullbacks. “During the 2021 cycle, corrections of up to 30% occurred before Bitcoin surged from $17,000 to $64,000,” Ju noted in a November 26 post. He stated the importance of risk management, adding, “This isn’t a call for a correction—just manage your risk and avoid panic selling at local bottoms.”
Another prominent analyst, PlanC, sees Bitcoin’s current consolidation phase as a positive signal for the longevity of the bull market. “Spending time consolidating in the 90s could be the best-case scenario for a sustainable rally,” PlanC <a href="https://x.com/TheRealPlanC/status/1861481290664673360" rel="noopener noreferrer nofollow">commented</a> in a recent post.
<h2 id="span-style-font-weight-400-what-s-next-for-bitcoin-span">What’s Next for Bitcoin?</h2>
While the excitement around Bitcoin’s six-figure potential continues to grow, market participants remain aware of the inherent volatility. <a href="https://thecoinrise.com/bitcoin-to-150k-in-12-18-months-tom-lee/" rel="noopener noreferrer nofollow">Projections of $150,000 are enticing</a>, but analysts caution that achieving these heights will require navigating pullbacks and market corrections.
For now, the <a href="https://thecoinrise.com/blackrock-spot-bitcoin-etf-options-debut-with-1-9b-trading-volume/" rel="noopener noreferrer nofollow">optimism in the Bitcoin options market</a> reflects a community prepared to balance risk with opportunity as it sets sights on a transformative year ahead.
The post <a href="https://thecoinrise.com/bitcoin-traders-bet-big-on-100k-milestone-as-options-demand-surges/" rel="noopener noreferrer nofollow">Bitcoin Traders Bet Big on $100K Milestone as Options Demand Surges</a> appeared first on <a href="https://thecoinrise.com/" rel="noopener noreferrer nofollow">TheCoinrise.com</a>.

Bitcoin Traders Bet Big on $100K Milestone as Options Demand Surges

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