#CryptoNews🚀🔥
$BTC
After surpassing $84,000 during the day, Bitcoin retreated back to $82,000, and the recent recovery has shifted attention to critical resistance levels.
At this point, the analysis firm QCP Capital states that Bitcoin has found strong support around $80,000 and the most critical resistance ahead is $87,000. The analyst also notes that if BTC experiences a sustained breakout above $87,000, the price could test $94,000.
Bullish Expectations Dominate the Options Market!
The analysis firm also examined the options market and stated that options indicators suggest a decrease in investor demand for hedging against downside risks.
At this point, QCP Capital noted that there is significant open interest in bullish butterfly spreads expiring at the end of October, with strike prices of $90,000, $95,000, and $100,000. This suggests that expectations for Bitcoin reaching higher levels are prominent in the options market.
However, the company noted that implied volatility remains high, adding that uncertainty in price movements persists.
$BTC
After surpassing $84,000 during the day, Bitcoin retreated back to $82,000, and the recent recovery has shifted attention to critical resistance levels.
At this point, the analysis firm QCP Capital states that Bitcoin has found strong support around $80,000 and the most critical resistance ahead is $87,000. The analyst also notes that if BTC experiences a sustained breakout above $87,000, the price could test $94,000.
Bullish Expectations Dominate the Options Market!
The analysis firm also examined the options market and stated that options indicators suggest a decrease in investor demand for hedging against downside risks.
At this point, QCP Capital noted that there is significant open interest in bullish butterfly spreads expiring at the end of October, with strike prices of $90,000, $95,000, and $100,000. This suggests that expectations for Bitcoin reaching higher levels are prominent in the options market.
However, the company noted that implied volatility remains high, adding that uncertainty in price movements persists.