Bitcoiners underprepared for possible $133K price tag in September

10x Research’s Bitcoin trend model says there’s a 60% chance for Bitcoin to move higher over the next two months, with history pointing to a 20% gain.

Crypto investors may be underexposed to Bitcoin, especially as option traders grow more bullish on the asset, according to 10x Research head Markus Thielen. 

“We remain constructive, especially as many traders appear underpositioned following last month’s option expiry, which led to significant exposure roll-off,” Thielen told Cointelegraph on Wednesday, explaining there’s a chance Bitcoin (BTC) could reach $133,000 in September. 

“Traders are now predominantly buying calls, signaling they may be underexposed to further upside,” Thielen said in a market report on the same day.

Read more