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Options Traders Betting Bitcoin Will Rise to $140,000
Summary: According to Jinse Finance, Bitcoin has hit a new all-time high, prompting options traders to increase their bets, expecting it to rise to $140,000. Data from Deribit, the cryptocurrency derivatives trading platform under Coinbase, shows that open short-term Bitcoin options contracts expiring at the end of the year are concentrated around this strike price for ...
According to Jinse Finance, Bitcoin has hit a new all-time high, prompting options traders to increase their bets, expecting it to rise to $140,000. Data from Deribit, the cryptocurrency derivatives trading platform under Coinbase, shows that open short-term Bitcoin options contracts expiring at the end of the year are concentrated around this strike price for call options. Demand for put options has also seen a mild increase, as traders seek downside protection after the rise. Greg Magadini, derivatives director at Amberdata, stated that the nominal open interest in Bitcoin futures and perpetual contracts has reached record highs, despite a wave of buy liquidations. The market's upward momentum has caught many off guard, with no signs of a peak yet, especially as many traders were previously shorting the market.
