en.bitcoinsistemi.com
Options traders are increasing their bets that Bitcoin will reach a record high by the end of the month, driven by optimism about lowering US interest rates and increased inflows into ETFs.
Bitcoin call options with a strike price of $75,000 across all maturities currently have the largest open position, that is, the number of pending contracts. This is followed by strike prices of $100,000 and $80,000, respectively, according to data compiled by Deribit, the largest cryptocurrency options exchange. Call options provide buyers with the right to purchase the underlying asset at a fixed price within a certain period of time.
“Investors are optimistic and looking forward to new all-time highs,” Deribit CEO Luuk Strijers said.
“The bullish sentiment in the $BTC options market is driven by strong $BTC ETF flows, expectations of US interest rate cuts, the ECB lowering interest rates, and the approval of an ETH ETF.”
Bitcoin climbed as high as $71,756 this week and was mostly little changed on Thursday after snapping a five-day winning streak. The largest cryptocurrency has fallen from a record high of $73,798 on March 14 as demand for recently approved Bitcoin ETFs showed signs of cooling. However, as expectations of a Fed rate cut fueled demand for riskier assets, inflows resumed and traders set their sights on a new high.
Call options expiring on June 28 saw the highest open position around the strike price of $75,000, while open positions of those expiring on July 26 and December 27 reached the highest level around $100,000. “All of this points to a positive outlook in the short and long term,” Strijers said. This shows that investors are confident that the price of Bitcoin will increase significantly in the coming months.
*This is not investment advice.