Bitcoin Traders Target $100K Options as Prices Surge Beyond $93K
Bitcoin's price has eclipsed the $90,000 mark, with traders actively purchasing $100,000 call options in anticipation of further gains, as reported by CF Benchmarks.
Bitcoin traders appear to be scooping up the $100,000 call option on the CME, as noted by CF Benchmarks. Such bullish trends are also evident on Deribit.
Recently, BTC surged beyond the $90,000 resistance level, hitting a new high above $93,000 as institutional investors piled into call options in expectation of further price increases. According to CF Benchmarks, the demand for the $100,000 call option is gathering momentum.
"According to CF Benchmarks' data, the 30-day constant maturity 25 delta skew has now breached the 5 vol threshold, a near YTD high, which signifies much greater demand for upside exposure," stated Thomas Erdösi, head of product at CF Benchmarks.
The 25 delta skew indicates the relative pricing of call options versus puts, showcasing the market's outlook. Such positive sentiment suggests that traders anticipate an increase in BTC value.
This demand for options above $100,000 reflects heightened interest as traders expect Bitcoin prices to continue their upward trajectory. Interestingly, the current rally persists despite the ongoing increase in the dollar index. BTC has climbed over 36% since the pro-crypto Donald Trump's election victory on Nov. 5.
