Bitcoin

April

Lyra

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/lyra-finance-predicts-20-chance-of-bitcoin-hitting-record-highs-by-april-end/" data-wpel-link="internal">Lyra Finance Predicts 20% Chance of Bitcoin Hitting Record Highs by April End</a><br></p>
<p style="text-align: justify">Leading decentralized cryptocurrency options exchange Lyra Finance has announced that the probability of <a href="https://en.coin-turk.com/cambridge-bitcoin-electricity-consumption-index-cbeci-researchers-revise-methodology-to-improve-accuracy-and-reliability/" data-wpel-link="internal">Bitcoin</a>‘s (BTC) price exceeding $70,000 by the end of April is 20%. The cryptocurrency options exchange recently introduced options expiring on April 26, allowing investors to speculate on price trends surrounding the planned mid-April block reward halving.</p> 
<h2 style="text-align: justify" id="strong-exchange-predicts-20-probability-of-bitcoin-refreshing-record-by-april-end-strong"><strong>Exchange Predicts 20% Probability of Bitcoin Refreshing Record by April End</strong></h2> 
<p style="text-align: justify">According to Nick Froster, founder of Lyra Finance and a former Wall Street options trader, markets on the exchange indicate that there is approximately a 20% chance of Bitcoin reaching its all-time high by April 26. This analysis comes at a time when Bitcoin has risen 35% in just three weeks, reaching $52,000, the highest level since the end of 2021.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-315519" src="https://coin-turk.com/wp-content/uploads/2024/02/Bitcoin-BTC-Rekor.jpeg" alt="" width="1280" height="720"></p> 
<p style="text-align: justify">Despite the recent upward momentum, investors at Lyra Finance are showing a cautious stance on the likelihood of Bitcoin exceeding $70,000 by the end of April. This perspective contrasts with the optimism prevalent among cryptocurrency investors who expect further gains due to US fiscal stimuli, the upcoming block reward halving, and the reduced likelihood of a global recession.</p> 
<p style="text-align: justify">Froster pointed out that trading activity in the options expiring on April 26 is primarily focused on the upside, with call buyers showing interest in options at $64,000 and $70,000. This situation reveals that despite the cautious outlook on BTC’s potential to reach all-time highs by the end of April, investors are leaning towards an upward trend.</p> 
<p style="text-align: justify">As is known, options, which provide the right but not the obligation to buy or sell an underlying asset at a predetermined price, offer valuable insights about market sentiment. The pricing of options reflects sophisticated investors’ predictions of where the market will head in the coming weeks and months.</p> 
<h2 style="text-align: justify" id="strong-the-role-of-lyra-finance-in-the-cryptocurrency-options-market-strong"><strong>The Role of Lyra Finance in the Cryptocurrency Options Market</strong></h2> 
<p style="text-align: justify">Lyra Finance, the world’s largest decentralized cryptocurrency options exchange, stands out by accounting for 50% of the global decentralized options exchange volume, which has reached $32 million in the last 24 hours. With the recent listing of Bitcoin options expiring on April 26 on the exchange, investors can now speculate on price movements surrounding the upcoming block reward halving.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/lyra-finance-predicts-20-chance-of-bitcoin-hitting-record-highs-by-april-end/" data-wpel-link="internal">Lyra Finance Predicts 20% Chance of Bitcoin Hitting Record Highs by April End</a></h5>

Lyra Finance Predicts 20% Chance of Bitcoin Hitting Record Highs by April End

Table of Contents

COINTURK NEWS

Other articles published on Feb 16, 2024

Whales Targeting These Altcoins for Major Gains During Bull Market

Hacking Strikes Convex Finance Wallet, Resulting in Significant BEAM Token Theft

Bitcoin All-Time High Ahead: Historical Pattern Signals 50% Chance Of Reaching $100K By August

FTC set to target deepfake threats to consumers with its updated rules

The UAE to Emerge as Global Fintech Hub, Insights from KARM Legal Show

Here’s Why the XRP Price Can Increase by Another 25% in February

Join our free newsletter for daily crypto updates!