Summary
The price of Bitcoin has remained steady at around $52,246.31, with a 0.3% drop from the previous day. However, Bitcoin has seen a 12% gain in the past week and its average weekly trading volume has rebounded significantly. Trader optimism is evident in the Bitcoin derivatives market, with call options outweighing put options. Traders believe that Bitcoin has more room to grow in the coming months, with many betting on prices between $60,000 and $75,000. The US spot Bitcoin ETFs have also seen significant activity, with 100,000 BTC in flows. The sustained interest from Wall Street has led to competition among ETF issuers, prompting VanEck to lower its fees. BTC volatility has slightly calmed down in recent days due to increased liquidity on exchanges.
Key Points
1. Bitcoin’s price has remained steady at $52,246.31, with a 0.3% drop from the previous day. However, it has seen a 12% gain since the same time last week, indicating positive weekly growth.
2. Bitcoin’s average weekly trading volume has rebounded significantly, reaching $36.4 billion, the highest since the beginning of the year. This increase in trading volume coincided with the introduction of 10 spot Bitcoin ETFs.
3. Traders are optimistic about Bitcoin’s future growth, as evidenced by the higher number of call options (contracts betting on price increase) compared to put options (contracts betting on price decrease). There is also a growing number of traders speculating that BTC could reach prices between $60,000 and $75,000 by the end of the next month.