Bitcoin experienced a significant surge of over 60% in October. This week marked a significant milestone as it broke above $44,000 for the first time since April of 2022.
However, despite making gains, BTC encountered a strong resistance in new trading positions causing it to begin to retreat. As a result of profit-taking, there was a significant pullback.
On the night of Friday, December 8, Bitcoin fell to $43,124. However, traders are expecting a resumption of expansion in the coming days.
In the options market, open interest in contracts with a strike price of $50,000 is currently the highest, according to data from the Deribit exchange reported by Bloomberg.
These call options are set to expire on January 26. Bitcoin’s last trading at $50,000 was recorded in December of 2021. Lucas Stryers, Deribit’s Commercial Director, believes that investors are waiting for capital to return to the American stock market.
This flow of funds into high-tech manufacturing is expected to increase if the Federal Reserve eases its tight monetary policy.
