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<a href="https://u.today/bitcoin-btc-welcomes-100-billion-wave-from-new-mega-whales" rel="noopener noreferrer nofollow">Bitcoin</a> options traders are betting that the leading cryptocurrency might break $75,000 this month. This optimistic wager comes against a backdrop of growing interest and hope in Bitcoin's market potential, fueled by positive economic data and increased institutional acceptance.
Bloomberg <a href="https://x.com/crypto/status/1798823982482739531" rel="noopener noreferrer nofollow">reports</a> that in recent weeks, data from major options exchanges have shown a huge surge in optimistic bets on Bitcoin. Traders are buying call options with strike prices of $75,000 or higher, signaling that they believe Bitcoin's price might exceed this level within a month. This increase in optimistic sentiment demonstrates increased confidence among market players in Bitcoin's near-term prospects.
Bitcoin call options with a strike price of $75,000 across all expirations have the highest open interest, or number of outstanding contracts. That is followed by $100,000 and $80,000 strike prices, according to statistics gathered by Deribit, the largest cryptocurrency options exchange. Call options give buyers the right to acquire the underlying asset at a predetermined price and time.
Bitcoin reached a high of $71,756 this week and is currently trading at $70,890, down 0.65% after snapping a five-day gaining streak. The largest cryptocurrency fell from a record high of $73,798 reached on March 14 as demand for recently approved <a href="https://u.today/bitcoin-price-action-explained-heres-real-reason-why-btc-dipped-after-etf-approval" rel="noopener noreferrer nofollow">Bitcoin ETFs</a> cooled.
With Federal Reserve rate cuts expected to stimulate demand for riskier assets, inflows have returned, and traders are eyeing a new high.
The call options expiring on June 28 had the biggest open interest around the strike price of $75,000, while the open interest for those expiring on July 26 and December 27 is around $100,000.

Bitcoin (BTC) All-Time High Incoming? Derivative Traders Place Bold Bet

U_Today

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