Bitcoin

<h2 id="key-points">Key Points</h2>
<ul>
 <li>Bitcoin options data suggests traders predict prices could exceed the all-time high by the end of June.</li>
 <li>However, Bitcoin’s price is expected to remain stable in the short term.</li>
</ul>
<p>Bitcoin options traders are speculating that the cryptocurrency’s price could surpass its all-time high by the end of June.</p>
<p>This prediction is based on recent options data from <a href="https://crypto.ro/en/exchange/binance/" rel="noopener noreferrer nofollow">Binance</a>, which shows a concentration of open interest at a strike price of $75,000 for the end-of-June expiry.</p>
<h2 id="the-prediction-s-basis">The Prediction’s Basis</h2>
<p>Ruslan Lienkha, the chief of markets at Cyprus-based exchange YouHodler, stated that the open interest concentration is focused on <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a>‘s all-time high.</p>
<p>Bitcoin reached its record peak of over $73,000 in mid-March.</p>
<p>“There is significant call open interest domination, and many option traders expect the Bitcoin price to surpass its all-time high by the end of June,” Lienkha said.</p>
<p>This viewpoint aligns with data from the Deribit derivatives exchange, which also demonstrates a concentration of calls at a strike price of $75,000 for the end-of-June expiry.</p>
<h2 id="short-term-consolidation">Short Term Consolidation</h2>
<p>Nonetheless, Lienkha believes the Bitcoin price will likely continue to consolidate around current levels in the coming weeks.</p>
<p>Options are derivative contracts that allow a trader to buy or sell an underlying asset at a predetermined price on or before a specific date.</p>
<p>A call option provides the right to buy, and a put gives the right to sell.</p>
<p>It’s generally believed that a trader who purchases a call option expects the market to decline, while a put buyer anticipates a bearish market.</p>
<p>Bitcoin is currently maintaining above the $61,000 mark, with a small decrease of over 1% in the past 24 hours, trading at $61,115.</p>
<p>The GM 30 Index, which represents a selection of the top 30 cryptocurrencies, has also seen a decrease of 0.77% to 128.52 during the same period.</p>

Bitcoin Options Traders Anticipate Record Highs by June’s End, Analyst Suggests

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