Bitcoin’s Price Has Been On a Tear: But New Data Show BTC Could Grow Even Stronger Into July

Since the beginning of 2023, Bitcoin has been on a tear. As of this writing, mid-day January 17, the Bitcoin price is up about 28% year-to-date, reaching highs not seen since before the FTX/SBF/Alameda scandal broke.

Better, Bitcoin has just seen its biggest weekly gain in almost two years.

Because of this, we should ask, “Is crypto winter finally coming to an end?”

Perhaps it is.

New data show that Bitcoin could rally into at least July.


Bitcoin Price year-to-date


According to a report on CoinDesk, “Bitcoin’s 180-day call-put skew has crossed above zero for the first time since the start of 2021, indicating that bullish call options expiring in six months have become pricier than bearish put options.”

The 180-day call-put skew measures the price of options calls against options puts. It’s seen as a measurement of sentiment for six months ahead. In this case, that brings us to July.

Simply stated, the options market is now indicating a stronger Bitcoin price into the summer, at least. This is the first time in over a year that the options market is indicating a bullish case for Bitcoin.

But for Bitcoin bulls, it could get even better.

Peter Brandt, a legend in the commodities trading business since 1976, tweeted his thoughts on Bitcoin’s price to his 692,600 followers, predicting a bull run coming for BTC.

He said, “Any idiot can make wild guesses about markets, so here is my dunce-hat prediction. In reality, nobody has a clue what any given market will do.” 

But with these words, he Tweeted a curious chart to his followers:


Source: Peter Brandt’s twitter feed


And if correct, this chart makes a huge case for a massive bull run.

Now, a closer look at Brandt’s chart reveals (as he may believe) that Bitcoin could charge back towards its all-time highs before the year is out. After the rip, as this chart seems to show, BTC will take a relief dip back to $33k…

Then absolutely tear up to $175,000 by 2025. If that should happen, it would constitute a 725% increase in Bitcoin’s price from where we are today…

And both Bitcoin investors (individual and institutional) and Bitcoin miners could be in for one heck of a ride.

Now, clearly, Brandt is just giving his opinion on where Bitcoins price could go. But if his opinion is correct, and the options data hold up…

Crypto winter may be over!

You can learn how Bitcoin miners maintain the BTC blockchain, HERE

Or, read more about the BTC options skew, HERE