Bitcoin bulls target $115K by December: Does data back the expectation?
Bitcoin options show bulls targeting $115,000 by year-end but are traders becoming overly optimistic?
Key takeaways:
Bitcoin (BTC) bulls have high hopes for the year-end options expiry on Dec. 25, which features $6 billion at stake. The 33% price gain since the $60,130 yearly low on Feb. 6 have played a major role in bringing back bullish expectations. However, the huge amount of call (buy) options targeting $115,000 and higher for Dec. 25 raises questions about whether bulls are overconfident.
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