Teong Hng, CEO of cryptocurrency investment firm Satori Research, said activity in the over-the-counter options market indicates that bitcoin may soon return to all-time highs. Investor interest in call-over options for December 2024 at $100,000 is on the rise, indicating that institutional investors are becoming increasingly bullish. Teong Hng expects a strong rally towards the end of the year, with a Trump win set to be the highlight of it. Bitcoin's relatively strong performance last week contrasted with the weakness in the stock market as calls for Biden to drop out increased in both frequency and intensity.
In addition, Chris Weston, head of research at Pepperstone Group, wrote in a note: "The underlying momentum behind recent inflows into bitcoin exchange-traded funds (ETFs) suggests that the market could see bitcoin again moving towards $70,000."
Market Sources: Bitcoin Could See Another Approach to $70,000
2024-07-22 02:27:48
Crypto currency investment company satori research chief executive teongdesk3cryptocurrencydesktopCrypto News
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