Bitcoin Koers continues to break records – how long can the party take?

The vote in the cryptomarkt is pronounced positive, but technical voltages are set for Bitcoin (BTC) around the $ 115,000 rate. So -called hedge strategies of option traders can temporarily stop the further increase in Bitcoin, analysts say.

Demand rises, supply dries up

Bitcoin recently broken the $ 111,000 limit and analysts mention price objectives up to $ 180,000 before the end of the year. The spot ETFs raise huge amounts, and listed companies also buy huge amounts of Bitcoin.

The market also sees macro-economic impulses, such as the recent reduction of American creditworthiness by Moody’s, which seems to push investors towards alternatives such as Bitcoin.

At the same time, large parties, such as institutional investors and possibly even governments, remain active outside the usual stock markets. According to Alexander S. Blume from Two Prime, there are more and more indications for large-scale over-the-counter purchases, which increasingly uses Bitcoin as strategic property rather than as short-term speculation.

According to Ryan Lee van Bitget, Bitcoin is strongly above $ 103,000, despite fluctuations. He sees a clear shift in this: Investors are increasingly regarding Bitcoin as a reliable safety net in times of uncertainty about fiat money.

Obstacle at $ 115,000 by option players

But despite the strong demand, the zone remains a difficult obstacle around $ 115,000. Jeff Anderson of STS Digital explains that traders in the option market are active there with positions that force them to sell Bitcoin if the price rises. This keeps the course in control and can temporarily delay the advance.

Many of those positions are the result of investors who sell call options at higher levels to achieve some extra returns. As long as Bitcoin does not convincingly break this price range, the chance of a delay remains.

However, as soon as the rate knows how to break around $ 115,000 due to the resistance zone, the technical picture can turn. The sales pressure of dealers could then disappear, creating space for an accelerated increase towards new heights.

At the time of writing, the Bitcoin rate records $ 111,103, an increase of 4.2% in the last 24 hours.