Bitcoin's Big Move: What's Next for the Crypto King?

Bitcoin is making waves again, aiming for a significant price increase. After a quiet Christmas break, traders are back, and Bitcoin is attempting to shake off a downtrend that has persisted since October. Meanwhile, gold and silver are hitting new highs, indicating that precious metals remain in demand.

Traders Eye Huge Bitcoin Options Expiry

Traders are closely watching a massive Bitcoin options expiry event worth nearly $24 billion. This event could be a game-changer, potentially releasing pressure that has been suppressing Bitcoin's price. Once this happens, the market's next moves might become clearer.

Bitcoin's Price Range and Volatility

Bitcoin's price has been stuck in a range, making it difficult for traders to decide whether to go long or short. Even a small jump near $90,000 triggered significant reactions, with over $200 million in liquidations in just 24 hours.

Expert Predictions for Crypto

Experts like Michaël van de Poppe believe crypto could see better days after the new year. He notes that other assets like commodities and tech stocks might not be as attractive, making crypto a more appealing investment.

Key Levels to Watch

The daily close is crucial for Bitcoin's next move. A confirmed breakout could push the price towards $95,000, and even higher if it can hold above that level. Bitcoin's moving averages are also key levels to monitor.

Bitcoin's Undervaluation and Future Potential

Overall, Bitcoin is still seen as undervalued, and many believe it could rematch its all-time highs in the coming months. However, investing in crypto is risky, and everyone should do their own research before making any moves.