Analysis: The market is betting on $80,000 as strong support and $100,000 as strong resistance.
AI Summary1 min read
TL;DR
Options data shows increased buying of $80,000 calls and selling of $100,000 calls, indicating market bets on $80,000 as strong support and $100,000 as resistance.
Tags
options tradingmarket analysissupport and resistanceBitcoin price
According to Mars Finance, on November 30th, on-chain data analyst Murphy stated that options trading data showed a significant increase in buying of $80,000 call options, as well as a noticeable increase in selling of $100,000 call options and buying of put options. The market is betting on $80,000 as strong support, with bulls establishing a bottom. Meanwhile, $100,000 is being bet on as strong resistance, with bears believing this price level is difficult to break and adding hedging against a potential breakdown.