I do think this price and volatile is attractive for selling puts because I am being paid to wait till my strike price to buy or add a position. However, the strike price needs to be chosen carefully and the position added will be more significant than just a nibble.
I do think there is a good chance of bitcoin rebounding at around $90k but I would prefer a strike price at $80k to be have a greater safety margin. I wouldn’t take profit at $90k as the long term potential price is defin more than it. Neither would I add positions as the safety margin is not there. I would prefer to add at below $80k for a long position.
I am also looking at ETH and COIN as alternatives to bitcoin. ETH is currently seen as stable alt coin with long term potential and COIN has always been seen as an alternative to the cryptocurrencies themselves. Robinhood and circle are too risky for my ris appetite and I would prefer to watch further.
BTC Drops to $90K: Dip Before the Moon or Trend Shift?
Bitcoin pulled back after Powell delivered a neutral, non-committal tone during the latest Fed meeting. Ethereum, XRP, and Dogecoin also moved lower across the board.
Despite the dip, analysts say the long-term setup remains intact—with some even projecting Bitcoin could still surge to $100,000 if current macro conditions play out.
Tom Lee added that Ethereum is currently trading like a “future option on the long-term narrative at a discount.”
For now, Bitcoin has retreated toward the $90,000 level, leaving traders debating whether this is a buying opportunity or a warning signal.
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