Bitcoin Traders Scoop Up Options Bets At $65K And Higher
The bullish flow is reminiscent of the 2020-2021 bull market when traders consistently snapped up bitcoin calls at levels well above the going market rate.
Binary trading platforms with better performance and payouts
Options
The bullish flow is reminiscent of the 2020-2021 bull market when traders consistently snapped up bitcoin calls at levels well above the going market rate.
Traders have scaled back bets of aggressive rate cuts by the Federal Reserve ahead of the U.S. GDP report.
The way ether options are priced suggests investor preference for bets that prices will fall, contradicting the bullish outlook presented by some analysts.
Some traders bought bitcoin calls at strikes $45,000 and $46,000 during Thursday’s U.S. trading hours, according to over-the-counter institutional cryptocurrency trading network Paradigm.
Bitcoin call-put skews (Amberdata)
The expiry is Deribit’s largest so far and a record of almost $5 billion of options will expire in the money.
The Commodity Futures Trading Commission granted crypto derivatives company Bitnomial approval to register as a derivatives clearing organization in the U.S., letting it settle margined futures and options contracts.
Crypto derivatives show bullish positioning but are not over-extended by historical norms. That’s good news for the whole crypto market.
Increased interest in the three-dimensional options market suggests an influx of sophisticated traders in the crypto market.
We have seen interest in loading up more topside with strong demand for the March 2024 expiry calls, one OTC desk said.