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Crypto markets have seen increased activity of late, with the CMC Crypto Fear & Greed Index indicating ‘Greed’, a 71.44 index value as of October 27, 2023. Therefore, the collective psyche of cryptocurrency investors may indicate confidence and more purchases than sales, driving prices up.
Aside from that, the Bitcoin and Ether options markets are soaring on the back of the ETF hype. This upswing has been driven by a surge in open interest and trading volumes on major exchanges like Deribit, which commands an impressive 90% of the global crypto options activity. With options worth a staggering $4.5 billion set to expire soon, and the combined notional open interest in BTC and ETH options topping $20 billion, there’s no doubt the market is thriving.
The growing appetite for options trading signals a maturing market and investors becoming more sophisticated. What’s particularly noteworthy is that despite the substantial triumphs and milestones achieved in the market, the situation is not a mere replication of the past. The current open interest in contract terms is significantly higher than what was recorded in November 2021 when Bitcoin traded above $66K. This suggests that the market has grown not only in size but also in complexity, with more contracts and varied strategies in play. As we delve into price forecasts of Bitcoin Cash (BCH), Litecoin (LTC), and Chainlink (LINK), it’s crucial to bear in mind this broader market context.
Bitcoin Cash (BCH) Price Analysis
Bitcoin Cash (BCH) has been showcasing remarkable strength in recent times. Analyzing its recent performance data, BCH has risen by 8.38% in the last week, 14.80% over the past month, and a whopping 105.62% in the past six months. On a year-to-date basis, BCH has seen an impressive increase of 154.10%, and over the past year, it has grown by 114.81%.
Bitcoin Cash (BCH) Price Forecast
Given the current bullish momentum backed by the significant gains over various time frames, it’s feasible that Bitcoin Cash (BCH) could continue its upward trajectory in the near term. If BCH ma
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Author: Crypto Daily
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