Part 11/12:
Options data reveal a highly bullish outlook, with the implied price for September 2024 around $106,000. The put-call ratio at 0.39 demonstrates that traders are overwhelmingly in a bullish stance. The trend suggests that Bitcoin could easily surpass $100,000 within the next few months, positioning it as a key asset for portfolio hedging and speculative positioning.
Market Cycle and Institutional FOMO
According to Crypto Quant, Bitcoin is in the middle of its bull cycle, with about a year left before the expected peak. Historical cycles show that after initial surges, the market consolidates before reaching new highs. The current inflows into Bitcoin ETFs, along with significant institutional allocations averaging around 5.6%, reinforce the likelihood of a sustained bull phase.