Market Wrap: Bitcoin Steadies at $18.7K; Big Ether Options Position Around $1,120 Isn’t Bullish
The bitcoin market dipped again Tuesday while traders have scooped up ether options at the $1,120 price level.
Less action in the bitcoin market Wednesday means traders are sitting out while ether options are piling up for a first-quarter expiration.
Bitcoin’s price has ridden a roller coaster on lower spot volume while options traders are ready to bet on ether FOMO.
Bitcoin fell by over $3,300 while options traders see ether going higher.
Bitcoin’s huge sell-off by over $8,000 in the past 24 hours while options traders clearly are betting that ether is overvalued.
Bitcoin continues to appreciate in price as ether options interest wanes after a hot November.