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Cryptocurrency News Articles
Bitcoin tops $89k, with bets on $100k by December
Nov 12, 2024 at 10:07 am
Rumours of a nation-state quietly buying Bitcoin US mulling a a strategic Bitcoin reserve
Bitcoin's recent rally has sparked optimism among traders, with many placing bets on the cryptocurrency reaching $100,000 by December. According to crypto options exchange Deribit, the largest call options position is set for the December 27 expiry, with a strike price of $100,000. As of Monday morning in London, there were around 9635 Bitcoin—roughly $780 million—in open interest betting on Bitcoin hitting $100,000 by December 27, says Deribit.
For those unfamiliar, open interest refers to the total number of outstanding contracts that have not yet been settled. It represents the sum of contracts that investors have placed but not yet closed.
This massive open interest is by far the largest bet placed for that expiry date, with the chances of the trade paying off estimated at 18.6 per cent, according to Deribit.
Meanwhile, the total Open interest in Bitcoin futures globally, recently reached nearly $50 billion for the first time in history, with continued buyer dominance observed since the weekend.
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- TRON and Avalanche Prices Significantly Decline, Prompting Investors to Reconsider Their Investment Options
- Nov 14, 2024 at 10:15 pm
- While most coins are bullish following a favorable turn of externalities, TRX and AVAX have been the direct opposite. AVAX and Tron's prices have significantly declined in the past few weeks, prompting investors to reconsider their investment options.
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- Dogecoin's Hidden Impact: Revolutionizing Industries and Community Dynamics
- Nov 14, 2024 at 10:15 pm
- Dogecoin, once dismissed as a mere internet meme, has now cemented its status as a formidable player in the cryptocurrency arena. While its rise has been largely discussed, some aspects haven't received the attention they deserve. In this article, we delve into unexplored facets of Dogecoin that could significantly influence lives globally.