Bitcoin (BTC) continues to show remarkable performance, reaching $109,000, just 2% below the record. However, traders are cautious about further increases.
Reasons Behind Bitcoin's Price Surge
The price increase of Bitcoin occurred following data showing monetary expansion in the eurozone and signs of weakness in the US labor market. Although the market is still reacting to economic stability, traders are maintaining cautious positions.
State of Options Markets and Stablecoins
Options markets show a neutral position, with a 25% delta skew of 0%. This indicates balanced risks for price movements. However, demand for stablecoins in China has decreased, reflecting investor fears.
Impacts of Global Trade Tensions
Recent threats of tariff increases in the US and concerns about a trade war with China heighten traders' uncertainties. Concessions in negotiations will be critically important for market stability.
While Bitcoin demonstrates strong growth, current economic instability and geopolitical risks create caution among traders. The future of the cryptocurrency market will depend on how global trade tensions are managed.
