By Aduragbemi Omiyale
The Head of Research at Derive.xyz, Mr Sean Dawson, has disclosed that the price of Bitcoin could potentially reach $200,000 next year.
On Wednesday, the token cross the elusive $100,000 threshold buoyed by renewed interest in the crypto market after Mr Donald Trump won the presidential election of the United States held on November 5, 2024.
Mr Trump, who is returning to the White House for the second term after he occupied it from 2017 to 2021, is a fan of the crypto landscape and it is believed that his return would favour the market.
In the analysis done by the world-leading onchain options DeFi protocol, it was stated BTC has the 18 per cent chance of shattering that ceiling.
โWhile Bitcoin hits a major milestone of reaching above $100,000 for the first time today (yesterday), optimism has surged on Derive.xyz, with an 18.7 per cent chance of BTC reaching $200,000 by September 26, 2025 โ four-times higher since the US election,โ Mr Dawson said in a note to Business Post.
โEthereum is not far behind with an all-time high prediction of 23.6 per cent chance of reaching $8,000 by the same date.
โCurrent market dynamics also show a 10.5 per cent probability of Ethereum hitting $6,000 and a 6 per cent chance for Bitcoin to reach $150,000, both by January 31.
โThe sharp increase in the 25 delta skews for Bitcoin to 8.8 per cent and 10.3 per cent for 7 and 30 days, respectively, compared to 24 hours ago, shows that traders are heavily favouring calls over puts to maximise on potential upward movements.
โAdditionally, Bitcoinโs ATM implied volatility has reflected these expectations with a significant increase, peaking at 72 per cent recently, before adjusting to 61 per cent. This indicates anticipation of substantial price movements in the coming week.
โThe heightened market activity and trader confidence are mirrored in Derive.xyzโs performance, with our total value locked (TVL) reaching a new peak of $94.8 million. This milestone solidifies Derive.xyzโs position as a dominant player in the DeFi space, poised to leverage these optimistic market trends, as we move toward a TGE on January 15,โ he added.