CandleFocus

BTC options activity is heating up as Uptober and US election nears

Bitcoin options activity is increasing as traders position themselves for potential market fluctuations. This coincides with the U.S. Federal Reserve's rate-cutting cycle and the expectation of further cuts. The 2024 U.S. election is also impacting Bitcoin, with both major contenders, Donald Trump and Kamala Harris, embracing cryptocurrencies. Recent data shows a drop in Bitcoin price due to a "long squeeze" in the futures market. However, experts believe that Bitcoin may react positively to the surge in global liquidity and predict a bullish target of $90,000 to $100,000 by the end of 2024.

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