Bitcoin options positioned for potential price breakout above $74,000 this month

Recent large buys of bitcoin call options with a strike price above $74,000 for June expires lead analysts to speculate that many investors are betting that prices will rise above $74,000 by the end of the month.

Additionally, on Wednesday, the highest trading volume on Deribit was seen in calls with a strike price of $80,000 for the end-of-June expiry, totaling 1723 contracts and a notional value exceeding $123 million. He pointed out that this week's surge in inflows was evidence of a notable uptick in institutional demand. He added that whether this increase in demand can be sustained will depend on the macroeconomic outlook for crypto.

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