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.



Other News from Today