Bitcoin

Strike

<h2 id="quick-take">Quick Take</h2> 
<p>As we approach the last trading month of 2023, set to close on Dec. 29, an intriguing pattern surfaced in the <a href="https://cryptoslate.com/coins/bitcoin/">Bitcoin</a> options market on the Deribit exchange. Open interest, a metric representing unsettled options contracts betting on Bitcoin’s future price, is gearing for another option expiry on the last Friday of December.</p> 
<p>The market is demonstrating an intriguing spread of strike prices — the predetermined prices at which an option can be exercised. The data reveals roughly $368 million in call options at a $40,000 strike price, $347 million at $45,000, and about $250 million at $50,000. These peak values of call options and bets predicting an upward movement in Bitcoin’s price suggest a concentrated bullish sentiment around these strike prices.</p> 
<figure id="attachment_377796" aria-describedby="caption-attachment-377796" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="wp-image-377796 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/11/dec-1.png" alt="Options Open Interest By Strike Price: (Source: Glassnode)" width="1800" height="1013" srcset="https://cryptoslate.com/wp-content/uploads/2023/11/dec-1.png 1800w, https://cryptoslate.com/wp-content/uploads/2023/11/dec-1-300x169.png 300w, https://cryptoslate.com/wp-content/uploads/2023/11/dec-1-1024x576.png 1024w, https://cryptoslate.com/wp-content/uploads/2023/11/dec-1-768x432.png 768w, https://cryptoslate.com/wp-content/uploads/2023/11/dec-1-1536x864.png 1536w" sizes="(max-width: 1800px) 100vw, 1800px">
 <figcaption id="caption-attachment-377796" class="wp-caption-text">
  Options Open Interest By Strike Price: (Source: Glassnode)
 </figcaption>
</figure> 
<p>Additionally, the current put/call ratio stands at 0.5. This indicates a bullish market trend, as there are two call options for every put option (bets predicting a price drop). Thus, as we head into the closing days of 2023, the Bitcoin options market is presenting a bullish tilt, as indicated by the substantial volume of call options against put options. Roughly <a href="https://metrics.deribit.com/options/BTC">$5.7 billion</a> of notional value is set to expire on Dec. 29.</p> 
<figure id="attachment_377788" aria-describedby="caption-attachment-377788" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="wp-image-377788 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/11/56.png" alt="Options Open Interest By Strike Price: (Source: Deribit)" width="1894" height="473" srcset="https://cryptoslate.com/wp-content/uploads/2023/11/56.png 1894w, https://cryptoslate.com/wp-content/uploads/2023/11/56-300x75.png 300w, https://cryptoslate.com/wp-content/uploads/2023/11/56-1024x256.png 1024w, https://cryptoslate.com/wp-content/uploads/2023/11/56-768x192.png 768w, https://cryptoslate.com/wp-content/uploads/2023/11/56-1536x384.png 1536w" sizes="(max-width: 1894px) 100vw, 1894px">
 <figcaption id="caption-attachment-377788" class="wp-caption-text">
  Options Open Interest By Strike Price: (Source: Deribit)
 </figcaption>
</figure> 
<p>The post <a href="https://cryptoslate.com/insights/year-end-bitcoin-options-poised-for-bullish-close-with-5-7-billion-expiry/">Year-end Bitcoin options poised for bullish close with $5.7 billion expiry</a> appeared first on <a href="https://cryptoslate.com">CryptoSlate</a>.</p>

Year-end Bitcoin options poised for bullish close with $5.7 billion expiry

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