Add as a preferred source on GoogleDerive Market Prices 31% Chance Bitcoin Ends Below $70,000 by Christmas
The odds rose from 15% in a week as puts grew to 55% of premiums traded, while the chance of a finish above $80,000 fell to 26%.
Bitcoin options pricing on Derive put a 31% chance on the asset ending below $70,000 by Christmas, more than double a week earlier as put options gained share of premiums traded.
The market-implied probability stood at 15% the previous week. Odds of Bitcoin finishing above $80,000 fell to 26% from 53% over the same period, while the chance of topping $90,000 dropped to 6% from 18%.
Bitcoin traded around $73,500 on Wednesday, Nov. 11, after five consecutive weekly losses.
Puts accounted for 55% of premiums traded on Derive, up from 36% a week earlier. Options volume on the platform climbed 37% week over week to $418 million.
The repricing came amid concerns about U.S. inflation and the possibility of Federal Reserve rate hikes. TokenPost previously covered a large Bitcoin call-options position on Derive alongside market odds for a Christmas price threshold.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.