RATE Group | Traders Expect Bitcoin Price to Explode Big in Next Week: Will It Happen?
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Traders Expect Bitcoin Price to Explode Big in Next Week: Will It Happen?

08 Feb Traders Expect Bitcoin Price to Explode Big in Next Week: Will It Happen?

Posted at 07:19h in Bitcoin News by

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Bitcoin has been on an absolute tear over the past few days. Since bottoming at $9,100 early this week, the cryptocurrency has ripped higher, surging from $9,100 to a recent high of $9,850 as buyers have stepped in en-masse.

While this over 7% surge is already impressive in and of itself, data suggests that crypto traders are currently expecting BTC to surge even higher in the coming weeks. The question is: will such a surge happen?

Related Reading: Here’s Why a Politician Says U.S. Must Smarten Up on Crypto Regulation

Bitcoin Will Trend Higher, Options Traders Conclude

According to a recent observation by Three Arrows Capital’s Su Zhu, who cited Deribit options data, traders are aggressively skewed for the February 14th contract expiry, suggesting that the “options market is expecting big moves up [over] the next 7 days.”

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