Bitcoin Could Climb Beyond $150,000 by January, DeFi Derivatives Platform Derive Says – Decrypt

Derivatives markets are pointing out that Bitcoin is unlikely to rise further next month after its historic rally of over $100,000 last week.

According to Sean Dawson, head of research at DeFi derivatives protocol Derive:

“We continue to see a 10.5% chance of Ethereum reaching $6,000 by January 31st and a 6% chance of Bitcoin exceeding $150,000,” Dawson said. decryption.

“As for the 25 delta skew, it has been stable since last week and we don't see any major changes,” Dawson added. “The market seems to have consolidated its position over the weekend.”

25 Delta skew measures the market's bias between calls and puts, and its stability suggests that traders' expectations of price direction and risk have not changed significantly.

This follows significant volatility that saw Bitcoin rise above the $100,000 price tag on Wednesday, before falling to an eight-day low of $92,000 12 hours later.

Bitcoin's price has since recovered and was flat on the day at $99,260, according to data from CoinGecko.

“Weekends are usually a quiet time for the market and prices tend to be slower,” Dawson said.

Dawson noted that factors such as MicroStrategy flows and BlackRock IBIT options have a significant impact on Bitcoin pricing, and noted that weekend trading “tends to reduce volatility,” adding to the market's ” “This will give us a chance for stabilization,” he said.

Bitcoin has regained the imagination of retail and institutional investors after President-elect Donald Trump won a decisive victory in the 2024 election last month.

President Trump has pledged to carry out strategic preparations for Bitcoin in the United States, while protecting the interests of domestic cryptocurrency mining companies and companies providing industry-related services.

Meanwhile, exchange-traded fund flows for major issuers such as BlackRock and Fidelity continue to set impressive records, with the former becoming the world's fastest fund to reach $50 billion in assets under management.

“The market is in uncharted territory and we are now in a new price discovery zone,” Singapore-based QCP Capital wrote. Note on wednesday. “We are back to an either-or scenario where the spot price could rise or fall below $100,000 due to selling pressure.