Bitcoin’s recent surge, reaching a new peak over the past weekend, is prompting options traders to increase their wagers on the cryptocurrency’s continued upward trajectory. Many are now betting Bitcoin could potentially climb to $140,000.
Information gathered from Deribit, a cryptocurrency derivatives exchange supported by Coinbase, reveals significant open interest in short-term Bitcoin options contracts, specifically call options expiring near the end of the year. These contracts center around the $140,000 strike price. Simultaneously, there’s a noticeable, albeit smaller, rise in the acquisition of put options, suggesting traders are also seeking to safeguard against potential price corrections following the recent rally.