Bitcoin Options Data Indicates Expectations of Price Surge Towards Highs by End June
Crypto News

Bitcoin Options Data Indicates Expectations of Price Surge Towards Highs by End June

1m
Created 5mo ago, last updated 5mo ago

Recent options data from Binance has revealed a concentration of open interest in bitcoin options at a strike price of $75,000 for the end-of-June expiry.

Bitcoin Options Data Indicates Expectations of Price Surge Towards Highs by End June

Recent options data from Binance has revealed a concentration of open interest in bitcoin options at a strike price of $75,000 for the end-of-June expiry, according to market analyst Ruslan Lienkha. Lienkha explained that this open interest concentration aligns with Bitcoin's all-time high. In mid-March, bitcoin reached a peak value of over $73,000.

Options are derivative contracts that grant traders the right, but not the obligation, to buy or sell the underlying asset at a predetermined price on or before a specific date. Call options provide the right to buy, while put options offer the right to sell. It is generally assumed that traders who purchase call options are bullish on the market, while put buyers are bearish.

Lienkha highlighted the significant domination of call options in the open interest, suggesting that many option traders anticipate bitcoin surpassing its previous all-time high by the end of June. This observation is consistent with data from the Deribit derivatives exchange, which also shows a concentration of calls at a strike price of $75,000 for the end-of-June expiry.

Despite expectations of a price surge, Lienkha predicts that the bitcoin price will likely consolidate around its current levels in the coming weeks. This suggests a potential period of relatively stable trading in the short term. At the time of writing, Bitcoin (BTC) is trading at $61,212, experiencing a slight increase of over 0.54% in the past 24 hours.
This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators. This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice. The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap.
4 people liked this article