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Tuesday

29 September 2020

Market Wrap: Bitcoin Passes $10.7K; Ethereum Gas Usage Hits Record September Highs - CoinDesk

Market Wrap: Bitcoin Passes $10.7K; Ethereum Gas Usage Hits Record September Highs - CoinDesk


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The price of bitcoin hit as high as $10,759 on spot exchanges such as Coinbase Monday.

“While bitcoin price dabbles around $10,000 now, traders have still priced in a chance that bitcoin will trade at $20,000 by March 2021,” said William Purdy, an options trader and founder of analysis firm PurdyAlerts. .

Indeed, based on how options are currently trading in the market, it appears as if options traders are estimating a 10% chance that bitcoin will be at $20,000 by the March 2021 expiration date. .

markets have had a strong opening this morning, which pushed BTC up 5%, so it will be interesting to see what impact that has on open interest in the coming days.”

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