Bitcoin Price Volatility Continues with $126K Target from Options Traders
Bitcoin's price has experienced volatility, dipping to $112K and rebounding towards a potential breakout above $115K. Over $1 billion in crypto market liquidations occurred last Friday amid this fluctuation.
Key points include:
- BTC faces rejection at $115K; traders anticipate a breakout.
- QCP Capital analysts view the recent pullback as a correction, not capitulation.
- July’s monthly close for Bitcoin set a record high.
- Improving macro conditions include stablecoin adoption and regulatory clarity.
- Options market shows demand for BTC call options at $118K, $124K, and $126K.
- Current elevated put skew may normalize if BTC surpasses $115K.
- Upcoming ETF flow data is crucial for market sentiment.
The crypto market sell-off correlated with traditional markets, driven by a weaker U.S. jobs report and tariff tensions. Revised data indicates a cut of 250,000 jobs from previous figures, suggesting a weakened labor market.
CME FedWatch tool indicates over 80% expectation for a Fed rate cut in September, up from 39% previously, hinting at possible quantitative easing measures.
Investor Robert Kiyosaki mentioned he would increase his BTC holdings if the price drops further, viewing it as a buying opportunity.