Markus Thielen, the research head at Matrixport and founder of DeFi Research, predicts that Bitcoin will maintain its bullish momentum and reach $40,000 by the end of the year. Thielen's positive outlook is based on factors such as options market positioning and expectations of a dovish stance from the Federal Reserve. He believes that the increased demand for call options will lead to market makers buying Bitcoin and further driving up prices. Additionally, Thielen points to significant options expiries in November and December, with a higher interest in pushing prices to the $40,000 level. The receding U.S. inflation rate and the possibility of rate cuts or liquidity easing by the Federal Reserve also support the bullish case. Lastly, optimism surrounding the approval of spot exchange-traded funds (ETFs) could contribute to price gains.
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