Browsing: Rallies

Tom Lee’s bullish market outlook faces a near-term test as roughly $10.8 billion in Deribit Bitcoin options approach expiry.

Bitcoin (CRYPTO: $BTC) and other cryptocurrencies rose to start October. On Oct. 2, Bitcoin got as high as $86,500 U.S. Other digital assets such as Ethereum (CRYPTO: $ETH) and Solana (CRYPTO: $SOL) also rose to begin what is typically the strongest month of the year for crypto.

Tom Lee called a historic Q4 stock rally on television, and the Fed raised rates less than 24 hours later. Now Bitcoin, Ethereum, and XRP face a much steeper climb than Lee’s bullish case lets on.

BTC$76,320.08 pushed up to $76,621 on Thursday, a gain of 0.60% since midnight UTC and 0.88% over 24 hours, as risk assets focused on the Federal Reserve’s interest-rate projections rather than the first increase in more than three years. Ether ETH$2,432.06 added 1.1% to $2,444.36 and solana (SOL) rose 2% to $100.57.