Bitcoin Despite experiencing sudden and sharp declines in recent days, options traders are increasing their bets that Bitcoin will reach a record level by the end of the month, amid expectations of possible interest rate cuts in the US and increased ETF inflows.
Largest crypto options exchange Deribit According to data compiled by , the BTC price with the most open position is $ 75,000, followed by strike prices of $ 100,000 and $ 80,000, respectively.
Options traders’ expectations and $6.68 billion in bonds due Friday Bitcoin and 3.5 billion dollars Ethereum (ETH) evaluating options Luuk Strijers, CEO of Deribit, He said the size of the upcoming BTC and ETH options expiry represents more than 40% of the total notional option open interest on Deribit.
Stating that the size of BTC and ETH options may increase the volatility in prices Deribit CEO said traders are optimistic and expect a new ATH in BTC in the near future.
“The uptrend in the Bitcoin options market is being driven by strong BTC ETF flows, the expectation of a US interest rate cut, ECB interest rates and the expected approval of the Ethereum ETF.
Bitcoin’s recent price drop was due to miner sell-offs, pressure from Germany’s BTC sell-off, and of course the news that Mt.Gox was starting refunds in early July.
While the short-term bearish trend is evident, traders are looking at the skew in options and expect a positive change for Bitcoin on July 12 and for ETH on July 5. ETH ETF trading is expected to begin in the first week of July.”
At the time of writing, Bitcoin is at $61,488; Ethereum continues to trade at $3,379.
*This is not investment advice.
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