Only 16% chance that the price of Bitcoin will reach 100,000 dollars in April
The open interest position of BTC and ETH indicates high trading activity near the maximum pain point. The dense clustering of their respective histograms around 80,000 to 90,000 dollars for Bitcoin and around 1,800 to 2,000 dollars for Ethereum shows this. This position suggests potential for short-term price consolidation or volatility.
According to Deribit, traders are selling cash-secured put options in Bitcoin. Additionally, they are using stablecoins for commodities while positioning themselves to buy BTC at lower prices. This reflects a long-term bullish outlook.
Analysts at Deribit also note the highest open interest for BTC options around the strike price of 100,000 dollars. This indicates strong market expectations that Bitcoin will reach this level.
