10x Research: Continues to Be Bullish on Bitcoin, Circle Up Over 31% Since Buy Point

Odaily Planet Daily News: 10x Research's latest report indicates that after months of narrow-range consolidation, Bitcoin has finally seen a breakout. It stated that its most preferred strategy this month is buying call options with a strike price of $70,000. The option was priced as low as around $300 on August 5th, dipped to $30 three days ago, then soared to a high of $1600, and is currently trading at approximately $1300.

10x Research also stated that a better trading strategy is the $70,000/$80,000 strike price call spread expiring in September. This structure is more bullish while still retaining some flexibility.

In addition, Circle is also one of 10x Research's most favored trades this month. Earlier, it suggested buying on dips when Circle fell to around $60-$61, and its stock price has now risen to $80, an increase of over 31%. In terms of gold, the previously predicted breakout has also materialized, with prices rising from $4100 to $4571, an increase of about 11%. It believes that the US debt level is about to break through the $40 trillion mark, which is one of the core drivers of the current macro outlook. Related market attention may continue to drive gold prices and could further support Bitcoin's rise.