The head of analytics for decentralized finance protocol Derive has stated that there is a 10.5% chance that Ethereum will reach $6,000 by January 31, 2025, while there is a 6% chance that Bitcoin will exceed $150,000.
Sean Dawson said the derivatives market situation suggests that the bull run in Bitcoin and Ethereum could continue into January:
“As for the options deviation figures, they remain stable since last week. The market consolidated over the weekend and there is a chance for new historical highs in the medium term.”
Options deviation helps determine market sentiment by measuring the difference in the pricing of call and put options. The stability of this indicator indicates that traders’ expectations regarding the direction of cryptocurrency prices have not changed significantly, according to Derive.
Now the price movement of Bitcoin and Ethereum will be more restrained than at the end of last week – despite the fact that the market has begun to react more strongly to the purchases of the first cryptocurrency by the American company MicroStrategy, which is actively increasing its BTC reserves , Derive reported.
Earlier, Real Vision expert Jamie Coutts said that Bitcoin could plunge into a correction for at least two to three months. If market conditions worsen, the asset will experience “serious pain,” the expert suggested.
