Daily BTC Analysis
We are seeing a resurgence in options trading. Yesterday saw the highest volume of options contracts changing hands since the 29th of July.
With option open interest climbing to $2B, Bitcoin is heading for its largest-ever expiry, with 17 days left to eclipse August’s $2.1B and September’s $2.27B totals.
The dollar index, shown below, continues to hold just above critical support at $92.72, as traders digest the latest analysis from Goldman Sachs and UBS suggesting a Biden ‘Blue wave’ would actually be positive for stocks. This, along with a Covid-19 vaccine, according to Zach Pandl, co-head of Global FX, Rates, and EM Strategy at Goldman, could see the dollar back to 2018 lows.
If Biden wins, maybe Twitter’s loss will be Bitcoin’s gain, as rising stock prices plus a falling dollar = happy hodlers.
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