Expected Rise in Bitcoin Options Market: $100,000 Bets Gaining Strong Momentum
Bullish Bitcoin Options Market Analysis
• Price Recovery Sparks Optimism: After a temporary drop below $75,000, the price of Bitcoin rose to over $84,000, restoring confidence in the market.
• Change in Options Positions: Data from Deribit exchange shows an increase in buying call options with strike prices between $85,000 and $100,000, and selling put options between $75,000 and $78,000, indicating bullish expectations.
• Positive Shift in Options Sentiment: 30, 60, and 90-day options sentiment shifted from negative to slightly positive, indicating a decrease in fear and an increase in optimism in the market.
Is the $100,000 target for Bitcoin price realistic?
• Increase in Open Interest: Call options at the $100,000 strike price on Deribit have seen a significant increase in open interest, reflecting traders' confidence in achieving this target.
• Market Psychology: Reaching the $100,000 level will solidify Bitcoin's position as a major asset, potentially leading to increased demand.
• Comparison with $70,000 Put Options: Despite significant interest in put options at $70,000, the focus on call options at $100,000 highlights the market's bullish outlook