CandleFocus

Bitcoin Bulls Eye $75K and Higher as BTC Registers Three-Week Winning Streak

Bitcoin (BTC) has experienced its first three-week winning streak since February, with traders buying call options at the $75,000 strike price and beyond, according to data from Amberdata. The upward trend has been supported by China's stimulus announcement and inflows into US-listed spot ETFs. The call buying and put selling activity suggests a bullish outlook for BTC prices and an anticipation of an acceleration in price movement. The increased call buying and put selling indicate expectations of a breakout from a six-month corrective trend, potentially leading to a rally towards $100,000.

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