2024

Bitcoin

DeFi

Planet

<div class="intro-text"> 
 Bitcoin call options have experienced a surge in activity, reminiscent of the heightened interest observed during the 2021 bull run. 
</div> 
According to <a href="https://metrics.deribit.com/options/BTC">data from Deribit</a>, over $20 million has been invested in Bitcoin call options with a $200,000 strike price on the crypto options exchange.&nbsp; 
Call options are financial contracts that grant traders and investors the right to buy the underlying asset at a predetermined price on a specified date. 
The $200,000 strike price, which is nearly three times the value of Bitcoin’s present trading price, expires on December 31, 2024. The selection of such a high strike price suggests a bullish outlook, with investors anticipating Bitcoin to reach this level by the end of the year, aligning with positive sentiments around Bitcoin’s upcoming halving event. 
<img fetchpriority="high" decoding="async" class="aligncenter size-full wp-image-13251" src="https://defi-planet.com/wp-content/uploads/2024/03/Screenshot-2024-03-08-144754.png" alt="Bitcoin Options Market Peaks as Investors Bet on $200,000 Bitcoin Price by End of 2024" width="1712" height="668" srcset="https://defi-planet.com/wp-content/uploads/2024/03/Screenshot-2024-03-08-144754.png 1712w, https://defi-planet.com/wp-content/uploads/2024/03/Screenshot-2024-03-08-144754-300x117.png 300w, https://defi-planet.com/wp-content/uploads/2024/03/Screenshot-2024-03-08-144754-1024x400.png 1024w, https://defi-planet.com/wp-content/uploads/2024/03/Screenshot-2024-03-08-144754-768x300.png 768w, https://defi-planet.com/wp-content/uploads/2024/03/Screenshot-2024-03-08-144754-1536x599.png 1536w, https://defi-planet.com/wp-content/uploads/2024/03/Screenshot-2024-03-08-144754-1320x515.png 1320w, https://defi-planet.com/wp-content/uploads/2024/03/Screenshot-2024-03-08-144754-600x234.png 600w, https://defi-planet.com/wp-content/uploads/2024/03/Screenshot-2024-03-08-144754-750x293.png 750w, https://defi-planet.com/wp-content/uploads/2024/03/Screenshot-2024-03-08-144754-1140x445.png 1140w" sizes="(max-width: 1712px) 100vw, 1712px"> 
The prevailing sentiment is that Bitcoin’s upcoming halving event will trigger a significant price surge, potentially reaching six figures. Many crypto analysts<a style="color: #0000ff;" href="https://www.linkedin.com/pulse/analysts-share-projections-btc-prices-during-2024-halving-tdacf"> share this optimism</a>, expecting Bitcoin to attain new all-time highs after the halving. 
Currently, Bitcoin’s supply-demand balance, now standing at 1:10, has expanded thanks to the recent introduction of spot Bitcoin exchange-traded funds (ETFs) in the U.S. financial market.&nbsp; 
Bitcoin reached a new all-time high of $69,170.63 on March 5, subsequently experiencing a modest dip and <a style="color: #0000ff;" href="https://coinmarketcap.com/currencies/bitcoin/">currently trading around $67,000</a>. This price movement corresponds to a notable 59.7% growth on Bitcoin’s year-to-date chart. Deribit <a style="color: #0000ff;" href="https://metrics.deribit.com/options/BTC">reports </a>that the overall open interest in Bitcoin options has surged to a record $20.4 billion, surpassing the previous peak of approximately $14.36 billion in October 2021. 
Meanwhile, Ethereum’s ether (ETH) option open interest has also reached an all-time high of $11.66 billion, indicating a broader trend of increased activity in the options market for major cryptocurrencies. 
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The post <a href="https://defi-planet.com/2024/03/bitcoin-options-market-peaks-as-investors-bet-on-200000-bitcoin-price-by-end-of-2024/">Bitcoin Options Market Peaks as Investors Bet on $200,000 Bitcoin Price by End of 2024</a> appeared first on <a href="https://defi-planet.com">DeFi Planet</a>.

Bitcoin Options Market Peaks as Investors Bet on $200,000 Bitcoin Price by End of 2024

DeFi Planet

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