Bitcoin (BTC) All-Time High Incoming? Derivative Traders Place Bold Bet

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Bitcoin call options with a strike price of $75,000 across all expirations have the highest open interest, or number of outstanding contracts. That is followed by $100,000 and $80,000 strike prices, according to statistics gathered by Deribit, the largest cryptocurrency options exchange. Call options give buyers the right to acquire the underlying asset at a predetermined price and time.Bitcoin reached a high of $71,756 this week and is currently trading at $70,890, down 0.

With Federal Reserve rate cuts expected to stimulate demand for riskier assets, inflows have returned, and traders are eyeing a new high. The call options expiring on June 28 had the biggest open interest around the strike price of $75,000, while the open interest for those expiring on July 26 and December 27 is around $100,000.Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.

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