{"id":10925,"date":"2024-02-22T15:33:37","date_gmt":"2024-02-22T13:33:37","guid":{"rendered":"https:\/\/forklog.com\/en\/bitcoin-options-traders-bet-on-rally-to-60000\/"},"modified":"2024-02-22T15:33:37","modified_gmt":"2024-02-22T13:33:37","slug":"bitcoin-options-traders-bet-on-rally-to-60000","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bitcoin-options-traders-bet-on-rally-to-60000\/","title":{"rendered":"Bitcoin Options Traders Bet on Rally to $60,000"},"content":{"rendered":"

Call options on Bitcoin expiring at the end of June are concentrated above the $60,000 strike price, indicating bullish sentiment. This is evidenced by data from Deribit<\/a>.\u00a0<\/p>\n

\"\u0422\u0440\u0435\u0439\u0434\u0435\u0440\u044b
June Bitcoin call options. Data: Deribit.<\/figcaption><\/figure>\n

The chart for the June 28 expiry shows a cluster of call options with strike prices ranging from $60,000 to $75,000. At the time of writing, approximately 45,000 contracts worth $2.48 billion have been placed.<\/p>\n

\n

\u201cThe June expiry for call options is a good indicator of sentiment ahead of the halving, and our charts show much more positive positioning. The put\/call ratio is significantly lower in June \u2014 0.28 compared to 0.55 in March,\u201d said Deribit\u2019s Chief Commercial Officer Luuk Strijers in a conversation with The Block<\/a>.<\/p>\n<\/blockquote>\n

A put-call ratio of less than 1 implies bullish sentiment, indicating greater interest in Bitcoin’s potential rise.\u00a0<\/p>\n

In February, open interest in call options was recorded between strike prices of $53,000 and $60,000. The \u201cmaximum pain point\u201d is at $48,000.\u00a0<\/p>\n

\"\u0422\u0440\u0435\u0439\u0434\u0435\u0440\u044b
February Bitcoin call options. Data: Deribit.<\/figcaption><\/figure>\n

However, Strijers noted that after the halving in April, the market may face increased selling pressure and consequently a correction.\u00a0<\/p>\n

According to his observations, call options are relatively overbought, with most expiring around the time of the miner reward reduction.<\/p>\n

\"\u0422\u0440\u0435\u0439\u0434\u0435\u0440\u044b
Distribution of put\/call options from February to December 2024. Data: Deribit.<\/figcaption><\/figure>\n

At the time of writing, the leading cryptocurrency is trading at $51,527, having gained 1% over the past day.\u00a0<\/p>\n

\"\u0422\u0440\u0435\u0439\u0434\u0435\u0440\u044b
15-minute BTC\/USDT chart on Binance. Data: TradingView<\/a>.<\/figcaption><\/figure>\n

The cryptocurrency fear and greed index is at 74<\/a>, indicating bullish sentiment.\u00a0<\/p>\n

Earlier, experts at QCP Capital predicted Bitcoin’s return to its all-time high in March. This is also suggested by data on call options for the asset and the frenzied demand for ETFs.\u00a0<\/p>\n

Previously, MicroStrategy founder Michael Saylor described investor demand for digital gold as unsatisfied.\u00a0<\/p>\n

On February 12, early Bitcoin adopter Tuur Demeester suggested that the leading cryptocurrency could reach $600,000 by 2026.<\/p>\n","protected":false},"excerpt":{"rendered":"

Call options on Bitcoin expiring at the end of June are concentrated above the $60,000 strike price, indicating bullish sentiment. This is evidenced by data from Deribit.\u00a0 June Bitcoin call options. Data: Deribit. The chart for the June 28 expiry shows a cluster of call options with strike prices ranging from $60,000 to $75,000. At […]<\/p>\n","protected":false},"author":1,"featured_media":10924,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1168,1409],"class_list":["post-10925","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-crypto-derivatives","tag-deribit"],"aioseo_notices":[],"amp_enabled":true,"views":"17","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/10925","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=10925"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/10925\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/10924"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=10925"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=10925"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=10925"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}