Bitcoin (BTC) Update

Current Price: $107,901.13 ▼

Traders on Deribit are increasingly targeting higher strike call options, indicating anticipation of renewed bullish volatility. According to a market update by Singapore-based QCP Capital, while implied volatility remains near historic lows, a strong breakout above the $110,000 resistance could trigger a spike in market volatility.

QCP noted that some large investors are strategically positioning for this move by accumulating September $130K calls and maintaining positions in September $115K/$140K call spreads. This reflects a broadly bullish outlook for Q3.

Call options give holders the right, not the obligation, to buy BTC at a set price before expiration—thus, buying a $130K strike call suggests the trader expects BTC to climb above that level.

Bitcoin has remained range-bound between $100K and $110K for over 50 days, as long-term holder sell-offs offset ETF inflows. However, volatility could return soon with the release of the June Fed minutes and the extension of the U.S. tariff pause to August 1.#BTC $BTC