Bitcoin’s Weekend Rally Fueled by Record Bets in Options Markets
Bitcoin experienced a weekend rally, reaching a new high for the first time since mid-August. This surge was fueled by increased investment in Bitcoin options markets, which saw record bets. Analysts attribute the rally to investors seeking safe-haven assets amid the U.S. government shutdown, a phenomenon known as the "debasement trade." The shutdown has led to increased concerns about the stability of the U.S. dollar, prompting some investors to turn to Bitcoin as an alternative. This latest rally in the cryptocurrency market highlights the ongoing interest and volatility in the digital asset space, as investors continue to explore its potential as a hedge against economic and political uncertainty.
Source: For the complete article, please visit the original source link below.
