TL; DR
Full story
You know those insufferable YouTube thumbnails where the host makes a cartoonish shocked face?
(Á la, Edvard Munch’s ‘The Scream’ ☝️).
They annoy us as much as the next person – but if there was ever a time to use one, it would be with this prediction…
“Bitcoin will be above $100,000 in September.”
That’s a bold statement.
Especially after Bitcoin fell from $65.5k to $63k this past Monday and Tuesday…
But that’s the bet Bitcoin options traders are making right now.
In short, options = the option to purchase an asset at a certain price in the future.
And right now, strangely enough, there is interest in buying the option to buy Bitcoin for somewhere between $75,000 and $100,000 in September.
This means that the BTC options market seems to think that buying BTC for $75k-$100k in September is a profitable trade.
Which seems disinterested…
But that also applies to their bets from last year, where we bet that we would see a BTC of over $70,000 in March 2024 – and they nailed it!
Let’s hope they are right again.