The lack of bearish $BTC traders selling $30,000 call options suggests that market participants don’t expect the price staying below this level for long, SynFuturesDefi CEO Rachel Lyn said. sndr_krisztian
among the positive catalysts. The uptrend, however, fizzled recently with prices dipping below $29,000 earlier this week before a modest bounce to the current $29,350.“While this technical drop may induce concern, given the robust uptrend over the past six months, it's sensible to consider this merely a short-term correction," she said, adding that the $31,000 call option “continues to attract high open interest” from traders.
Lyn said this is a sign that the price level poses a “potent resistance” in case of a bounce in BTC’s price.are trading instruments that give investors the right to buy or sell an underlying asset at a set price at a later date. A call option buyer gets the right to buy and those who purchase puts get the right to sell. For example, bitcoin traders often use call options to make cheap, leveraged bullish bets on the price.
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