Bitcoin’s options market sees only a 12% probability of prices rising above $100,000 by the end of December.
Bitcoin’s options market is assigning a low probability of prices rising above $100,000 this year despite widespread expectations for a meteoric rally in the wake of Tesla’s recent purchase of the top cryptocurrency.
At press time, the options market is pricing 12% odds of the cryptocurrency trading in seven figures before the end of December, according to data source Skew. The probability of a break above $70,000 is around 21%.
“With the extreme volatility of the past two months, the market isn’t showing a lot of conviction on how bitcoin will trade for the rest of the year,” Sui Chung, CEO of CF Benchmarks, told CoinDesk.
Source: Omkar Godbole/Coindesk
