Bitcoin Options Traders Bullish on $120K Target Post-FOMC Meeting
- Options traders are targeting a Bitcoin price of $120K, with call bets worth $200 million for each expiry in the next three days.
- The current put-call ratio stands at 0.68, indicating higher call volume than puts in the last 24 hours.
- Market expectations are influenced by anticipated Fed rate cuts following weak jobs and cooling inflation data.
- The Bitcoin Advanced Sentiment Index shows a bullish sentiment at 68.8%, nearing the High Bull Sentiment region of near 80%.
As the crypto market anticipates the Fed’s interest rate decision and economic projections, traders are optimistic about potential upward movement in Bitcoin prices. A favorable outcome from the FOMC meeting could further bolster this sentiment.
With options traders aiming for targets of $120K and $125K, current market dynamics suggest strong bullish momentum ahead of key economic announcements.(Source)
