Bitcoin continues its record ascent, surpassing the $114,000 mark. With increased institutional demand and financial market expectations, traders are actively betting on further growth.
Bitcoin's Surge and Trader Expectations
Bitcoin has made a record rise, trading around $114,000. Traders on the Deribit platform are actively opening contracts betting on a price increase to $120,000 by the end of the month. Open interest has surged at the $115K and $120K levels, with longer-term bets targeting $140K in September and $150K by December.
Trader Positions and Short Liquidations
Significant short liquidations have been recorded on Deribit. Chris Newhouse, head of research at Ergonia, reported the largest liquidation event since May 7, with about $447 million liquidated. This led to losses for those betting against the rising currency, while the remaining traders began to more actively bet on the upside.
Corporate Buyers' Influence and Trump's Comments
Commenting on current trends, Mauricio Di Bartolomeo, co-founder of Ledn, noted that a substantial part of the growth is also tied to corporate buyers adding Bitcoin to their balance sheets. This is also supported by statements from high-profile individuals like Donald Trump, who posts pro-crypto messages, boosting investor confidence in cryptocurrency markets.
The growing interest in Bitcoin and support from major players indicates that the cryptocurrency continues to attract attention. Predictions for further growth remain high despite global economic factors.
