Bitcoin reached $86,000 after three days of consolidation related to the Fed's interest rate decision.
Fed's Decision and Increased Risk Appetite
The Fed's recent pause in interest rate hikes created a positive market atmosphere. Following this decision, investors began gravitating towards higher-risk assets. Bitcoin emerged as a notable asset gaining value, surpassing the $86,000 mark.
Options Volume Rise and Testing Resistance Levels
A significant rise in options trading for Bitcoin has been observed in derivative markets. According to Coinglass data, the total options volume reached $793 million, marking a 24% increase. However, some technical indicators are causing concern among investors. The $87,200 level has emerged as a strong resistance point, and failure to surpass it could see prices retreating back to $84,000.
Impact of Macroeconomics and Institutional Investor Positions
With respect to global economics and market sentiment, the impact of inflationary pressure and market indicators on institutional players' investment decisions also plays a crucial role. Specifically, the positions of large investors continue to influence market direction.
Considering current macroeconomic factors and the rise in options market activity, Bitcoin may maintain its upward momentum, although resistance levels may limit further growth.
