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Crypto

Bitcoin $70,000-$72,000 call options surge as post-FOMC window seen as key test

Large call option positions targeting bitcoin at $70,000 and $72,000 have built up ahead of a July 31 expiry on Deribit. Open interest clustered around those strikes, with bitcoin near $64,289 at the time. Deribit’s chief business officer described a block trade structured as a bull call spread. The expiry falls just after the U.S. Federal Reserve’s July 29 policy decision, focusing attention on whether bitcoin can clear resistance near $69,000.

Crypto

Bitcoin could slide to $40,000; NYDIG says $38,000 possible in October

Bitcoin could fall to $38,000 to $39,000 in October if it continues to mirror past bear markets, an outlook said, with weakness linked to shifts in supply structure rather than simple risk-off sentiment. NYDIG said bitcoin has fallen about 30 percent this year and about 50 percent from its October record. It also noted unusually low volatility and changing correlations, while U.S. regulatory developments were cited as a potential support.

Crypto

Bitwise CIO says Bitcoin bottom debate is pointless, focus on the top

Matt Hougan, known as chief investment officer at Bitwise, said the key for Bitcoin investors is not whether a bottom has formed but whether the market has yet to reach its top. CoinPost reported he said asking if Bitcoin has already bottomed is the wrong question for long-term investors. His comments come as Galaxy Digital, NYDIG and Standard Chartered produced differing bottom calls, while he argued attention should be on whether the top is still ahead.