Bitcoin (BTC) rose more than 60% in October. This week, it broke above $44,000 for the first time since April 2022.
However, BTC encountered strong resistance on new positions and began to pull back. Due to profit taking, the pullback was significant.
On the night of Friday, December 8, bitcoin fell to $43,124. Nevertheless, traders expect the expansion to resume in the coming days.
In the options market, open interest in contracts with a strike price of $50,000 was the largest.
Such Call options expire on January 26, Bloomberg reports, citing data from the Deribit exchange.
Bitcoin last traded at $50,000 in December 2021. Deribit Chief Commercial Officer Lucas Strayers believes that investors are waiting for capital to return to the U.S. stock market.
The inflow of funds into high-tech manufacturing will increase if the Federal Reserve abandons its tight monetary policy.
In November, trading volume in the spot and derivatives markets rose 40.7% to $3.61 trillion, CCData found.
Jaime Baeza, head of hedge fund AnB Investments, emphasized that interest in cryptocurrencies has been declining for most of 2023.
Recently, however, the trend has started to change. Investors have once again started looking at both IT stocks and bitcoin.