Crypto traders are currently divided on market direction, with significant focus on key strike prices of $2,850, $2,900, and $3,000. Some traders are adopting a bearish stance by selling call options and buying put options, citing potential price corrections to $2,500 as normal, while predicting a surge to $7,000-$9,000 by January.
Conversely, a contrarian approach is emerging, with traders engaging in shorting Google and longing Bitcoin pair trades, as well as overnight long positions in Bitcoin. This divergence in strategy reflects skepticism about Tom Lee's prediction of a threefold increase from April lows, considering recent short squeeze dynamics.
Crypto Traders Divided on Market Direction Amid Option Strategies
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.
