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Bitcoin traders are betting on options at prices of $65 thousand and above, the situation is increasingly similar to 2020-21, writes CoinDesk.

Call options give investors the right to buy an underlying asset at a specific price by a specified date, while put options give the right to sell. The call buyer is implicitly bullish on the market.

The massive buying of calls with a higher strike price reflects bullish sentiment among market participants.

“We are seeing a concentration of open interest in $50K bets and are seeing an influx of $50K, $60K and $75K bets in the April through June option markets,” said Kelly Greer, head of sales Galaxy in the Americas, in an interview with CoinDesk. “These flows demonstrate the conviction of buyers willing to pay a premium to take these positions, suggesting investors have a constructive view of Bitcoin.”