Bitcoin has been consolidating within a $1,500 range over the past seven weeks. With BTC currently pushing higher and the fundamentals aligning in favor of bulls, analysts have begun to expect a strong rally into the end of a year.
This may not take place, though, an analyst keeping an eye on options has noted. He added that with whales likely to sell into the end of the year for tax purposes, BTC may not move higher.
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Options-focused crypto-asset analyst “Theta Seek” thinks that it is unlikely Bitcoin rallies into the end of the year. He recently shared a chart indicating that with options underwriters pricing monthly implied volatility at around 30% and whales likely to sell Bitcoin for tax purposes, there may be a short-term downtrend or consolidation:
“Its hard to for me to imagine