Today, the dynamics of the cryptocurrency market fully corresponds to the prevailing market sentiment. Traditionally, the value of the first cryptocurrency shows strong growth in April.
If we consider the statistics for the last three years, we can see that on average the cost of BTC rises by 40 percent - to expectations of the price at $75,000 from the current level. Now such an assessment, although it does not seem improbable, but still raises doubts. However, options traders do not consider it exorbitant.
At the moment, the leading contract on derivative exchanges is a call option with an expiration of April 30, amounting to $80,000. By the way, interest in it is kept at the level of 4,469 positions worth $240 million.
What does that say? The option entitles the buyer to purchase the asset at a given price for a limited period. And. although the contract premium is small, the increased interest speaks in favor of further growth.
Still one of the most serious arguments, talking for the further growth of the market, is the active removal of cryptocurrency on cold wallets. The other day we saw a record outflow for this year. Demand remains at a high level.
The optimistic expectations of investors and traders are spurred by the Fed's monetary policy and measures designed to revive the Economy of the United States of America. An anti-pandemic package worth $1.9 trillion has been approved. Joe Biden's administration is talking about preparing another $3 trillion package. Increased inflation expectations, as well as the build-up of money supply, lead new entrants to the crypto market, including from the category of institutional investors. According to experts and financiers, the storage of funds in cryptocurrency is a reasonable diversification of risks and a measure designed to protect savings from inflation.
These drivers can expect another surge in the value of cryptocurrencies next month.
InvestBot analytics team.