Bitcoin Options Data Shows Historical Movements: Here’s the Real Reason Behind BTC’s Rise

Bitcoin hit a new record high on Sunday as investors flocked to safe-haven assets following the ￰0￱ ￰1￱ trend, dubbed “devaluation trading,” has pushed both Bitcoin and gold prices to historic highs. BTC, which reached $125,689 over the weekend, saw a new peak for the first time since mid-August, according to ￰2￱ US government shutdown on October 1st sent investors looking to alternative assets to hedge against economic ￰3￱ also prevented the release of critical economic data such as nonfarm payrolls. Gold, meanwhile, reached an all-time high today, exceeding $3,900 per ￰4￱ Kuptsikevich, Chief Market Analyst at FxPro, noted that reduced liquidity over the weekend fueled price momentum: “A similar pattern was seen in July and August, with sharp increases occurring after renewed peaks at these levels.” Related News: Will Pro-Crypto Decisions in the US Be Reversed After Trump?

Bitwise CEO Responds FalconX Research Director David Lawant stated that total open interest in Deribit and IBIT is approaching $80 billion, which means an increase of approximately 10 times compared to the beginning of 2024: “Options market dynamics are shaping spot price movements like never before.” BTC Markets analyst Rachael Lucas said that the next technical resistance level is $135,000, with the target at $150,000 given the ongoing momentum. However, she noted that increased leverage carries the risk of high volatility in the event of sudden pullbacks: Options markets are showing a strong upward ￰5￱ 60% of open interest is in call options, which reflects strong conviction but could trigger liquidation cycles if momentum falters. *This is not investment ￰6￱ Reading: Bitcoin Options Data Shows Historical Movements: Here’s the Real Reason Behind BTC’s Rise