Bitcoin Could Hit $133K as Traders Remain Underexposed, Says 10x Research

Crypto investors may be underexposed to Bitcoin upside, even as option traders grow increasingly bullish, according to 10x Research head Markus Thielen. The analyst noted that many traders remain underpositioned after last month’s options expiry, leaving room for a potential rally that could see BTC climb to $133,000 by September. “Traders are now predominantly buying calls, signaling they may be underexposed to further upside,” Thielen said in a same-day market report. He added that with Bitcoin clocking a new all-time high at $112,000, the market could see momentum build further in the coming months. Bitcoin Trend Turns Bullish Amid ETF Demand 10x Research’s proprietary Bitcoin trend model flipped bullish on June 29, according to Thielen, indicating the current breakout may carry a 60% probability of further upside over the next two months. Historical patterns suggest this could translate to gains of around 20%, placing BTC near $133,000 from its current levels near $111,000. “This implies Bitcoin may be transitioning into a higher trading range,” Thielen explained, adding that several catalysts could fuel additional gains. These include the upcoming US Consumer Price Index (CPI) print on July 15, which is expected to be “benign,” and a “bullish policy backdrop” anticipated during the US crypto week. Thielen emphasized that despite Q3 traditionally being BTC’s weakest quarter—averaging just a 5.84% return since 2013—this time may differ, with ETF inflows and policy developments acting as tailwinds. On Wednesday alone, US-based spot Bitcoin ETFs posted $215.7 million in net inflows, according to data from Farside. “Bitcoin is breaking out, fueled by relentless ETF demand and a series of policy catalysts on the horizon,” Thielen said, cautioning that traders on the sidelines “risk missing the move that could define this quarter.” Analysts Signal a Shift in Market Sentiment Thielen’s outlook aligns with other crypto analysts who have highlighted growing optimism in the crypto market. Crypto trader Jelle stated on X, “Bitcoin is taking off,” expressing hope for a price close that confirms bullish momentum and silences bearish arguments. Rekt Capital echoed the sentiment, declaring, “The Bitcoin downtrend is over.” Meanwhile, crypto analyst Matthew Hyland warned that “max pain is coming” for those sitting out the current rally, comparing the present market environment to missed buying opportunities seen during the 2020 cycle. As BTC gains traction and policy developments align , the next few months could prove critical for traders evaluating their exposure. Analysts are suggesting that the cryptocurrency’s breakout could define the narrative for the remainder of Q3. The post Bitcoin Could Hit $133K as Traders Remain Underexposed, Says 10x Research appeared first on TheCoinrise.com .

Source: The Coin Rise