Bitcoin ETFs Set New File With $65B AUM: Will BTC Value Hit $75ok Earlier than US Fed Assembly?…

The agency’s transaction concerned repurchasing 223 BTC put choices with a $62,000 strike worth, and promoting the identical variety of put choices at a $66,000 strike worth. The agency’s nominal yield, because of this, rose by 2.65% to 13.four%.

Its new put choice’s strike worth would imply that if the worth of Bitcoin drops beneath the $66,000 mark, it could be obligated to purchase BTC at that worth. It acquired a premium of 5.9095 BTC by the choices technique.

Metaplanet’s BTC technique evaluate on Oct 16, and Bitcoin ETFs $1.5 billion inflows final week confirms the narrative that main stakeholders and enormous buyers are anticipating a extra Bitcoin worth beneficial properties forward of the following US Fed assembly slated for Nov 7 2024.

If this market dynamics persist, Bitcoin worth might doubtlessly hit new world peaks above the $75,000 degree within the weeks forward.

BTC Value Forecast: $70ok Breakout May Mark Main Turning Level

On the time of writing, Bitcoin worth has moved above the $68,000 degree. Primarily based on information noticed in IntoTheBlock’s In/Out of the Cash information, Bitcoin’s subsequent vital resistance zone lies between $69,243 and $72,500.

Inside that zone, over 994,000 addresses had acquired 630,100 BTC the final BTC worth hit these degree, suggesting a looming sell-wall forward.

Nonetheless, if Bitcoin can break above $72,500, this might sign the beginning of a recent bullish part, with the following main resistance zone being close to the $75,000 mark, an all-time excessive territory.