Recently, the price of Bitcoin has been performing strongly, drawing high attention from the market. The current price of Bitcoin has reached $103,688, with a weekly increase of as high as 7.6%. This upward trend has led investors to speculate whether Bitcoin can set a new historical high before June.
Judging from market data, the current rise of Bitcoin is not accidental. Previously, Bitcoin has repeatedly demonstrated the characteristic of significant price fluctuations, and its price is influenced by multiple factors. For instance, when some key events or data are released, the price of Bitcoin often undergoes significant changes. When the CPI data released by the United States meets market expectations, it provides upward momentum for risky assets such as Bitcoin, driving the price of Bitcoin to soar significantly.
In terms of market sentiment, investors are generally optimistic about Bitcoin at present. The data of the options market is an important reference basis. As of a specific expiration date, the open interest of Bitcoin options has risen sharply, among which the open interest of call options far exceeds that of put options, indicating a strong bullish sentiment in the market. If the price of Bitcoin remains within a certain range, long investors will gain substantial potential profits, which further stimulates the market’s enthusiasm for going long.
The data of the on-chain forecast market also reflects the confidence of investors. As data from the Polymarket platform shows, although the probability of Bitcoin touching the $100,000 mark in the short term has declined, it is still close to 50%. Moreover, the platform’s betting funds have reached a certain scale, indicating that investors are relatively optimistic about its future trend.
However, there are also some uncertainties for the price of Bitcoin to reach a new high before June. Market volatility has always been a major risk in Bitcoin investment. Even though the current bullish sentiment is strong, the price could experience a significant correction at any time. Moreover, macroeconomic factors have a significant impact on the price of Bitcoin. For instance, changes in macroeconomic data such as the inflation rate will all affect the trend of Bitcoin. When investors participate in Bitcoin transactions, they need to closely monitor the changes of these factors and do a good job in risk management.
Although Bitcoin is currently showing a strong upward trend and there is a possibility of reaching a new high before June, market uncertainty still exists, and investors need to make decisions carefully.
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