Bitcoin Shows Signs of Further Gains Ahead — Market Talk

Bitcoin might have more fuel left in the tank to add to its recent gains, says Frederik Theissen of Glassnode in a note. Theissen points to open interest in bitcoin options, which according to data from Deribit shows that call options are building for options at strike prices ranging from $91,000 to $102,000. Trader behavior appears to be signaling that investors are holding onto bitcoin, seemingly expecting further gains ahead. "Profit taking is a fraction of what it was at the 2024-2025 tops, even though almost all short-term holders are in profit," says Theissen. Bitcoin is down 2.6% to $83,985, while ethereum falls 3.4% to $2,657, XRP is down 4.2% to $1.51, and solana is down 2.8% to $114.66. ([email protected])