Bitcoin traders are betting on a rally above $80,000
Many traders expect Bitcoin to recover to the $80,000 level between June and September, said Derive.
What you need to know:
The current options valuation implies approximately a 35 percent probability that Bitcoin will trade above $80,000 by the end of June, indicating a sharp shift towards bullish sentiment.
Options bias measures have rebounded from deeply negative levels in February to around 10 percent positive, indicating that traders are reducing hedges against declines and anticipating more stable or rising prices.
An increase in put option writing across various markets suggests that traders are increasingly willing to take downside risk in exchange for a premium, while Bitcoin trades near $70,000, with a rise of approximately 5 percent for the month.
"The current price of options shows approximately a 35% probability that BTC will exceed $80,000 by the end of June," said Nick Forster, founder of the on-chain options platform Derive.xyz, to CoinDesk in an email. "Combined with the recovery in bias, this activity suggests that many traders expect Bitcoin to recover to the $80,000 level between June and September."
Options are derivative contracts that allow you to bet on whether BTC prices will go up or down, but with an integrated safety net that guarantees you will only lose a small initial fee, not your entire account, if the bet fails. It's similar to buying a lottery ticket.
$BTC
#BTC☀️
Many traders expect Bitcoin to recover to the $80,000 level between June and September, said Derive.
What you need to know:
The current options valuation implies approximately a 35 percent probability that Bitcoin will trade above $80,000 by the end of June, indicating a sharp shift towards bullish sentiment.
Options bias measures have rebounded from deeply negative levels in February to around 10 percent positive, indicating that traders are reducing hedges against declines and anticipating more stable or rising prices.
An increase in put option writing across various markets suggests that traders are increasingly willing to take downside risk in exchange for a premium, while Bitcoin trades near $70,000, with a rise of approximately 5 percent for the month.
"The current price of options shows approximately a 35% probability that BTC will exceed $80,000 by the end of June," said Nick Forster, founder of the on-chain options platform Derive.xyz, to CoinDesk in an email. "Combined with the recovery in bias, this activity suggests that many traders expect Bitcoin to recover to the $80,000 level between June and September."
Options are derivative contracts that allow you to bet on whether BTC prices will go up or down, but with an integrated safety net that guarantees you will only lose a small initial fee, not your entire account, if the bet fails. It's similar to buying a lottery ticket.
$BTC
#BTC☀️