Derivatives Data: Investors Think Bitcoin Will Continue Higher After 20% Surge

Despite the pullback from the Monday highs, Bitcoin remains above key resistance levels. As of this article’s writing, the leading cryptocurrency trades for $11,300. There are some bears that believe this rally is just a deviation from the range BTC was trading in. Derivatives data, though, shows that many traders are betting on Bitcoin continuing higher in the weeks and months ahead. Prominent market commentators agree with this positive sentiment that the cryptocurrency will continue higher. These prominent market commentators include the head of crypto funds and a senior analyst at Bloomberg who actively covers the cryptocurrency market. Bitcoin Traders Are Expecting More Upside, Shows Option/Derivatives Flows Even after Bitcoin’s recent rally, not all market participants are convinced that a bull market is here. Peter Schiff, the chief executive of Euro Pacific Capital and a prominent gold bull, wrote earlier this week: “Two of the last three times #Bitcoin rose…

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