BTC Could Hit $133K — Are Traders Prepared?

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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 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.

Bitcoin bullish trend model turns bullish
Bitcoin clocked a new all-time high on Wednesday, reaching $112,000.

According to Thielen, 10x Research’s Bitcoin trend model flipped bullish on June 29, and said the recent breakout could carry momentum through to September.

“Our trading signals suggest that this short-term breakout carries a 60% probability of further upside over the next two months, with historical analogs pointing to gains of around +20%,” he said. 

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