The $300K Bitcoin Lottery Grows Even Bigger as BTC Traders Chase Upside – Time to Step Back?
The post The $300K Bitcoin Lottery Grows Even Bigger as BTC Traders Chase Upside – Time to Step Back? appeared on BitcoinEthereumNews.com.
Earlier this month, CoinDesk highlighted the rising demand for the Deribit-listed $300,000 bitcoin call option, noting it as one of the most popular bullish plays for the all-important June quarter expiry. Now, this bet has become the most popular in the impending quarterly expiry, reinforcing its appeal as a “lottery ticket” for traders anticipating a bitcoin price rally above $300,000 by the end of the next month. At press time, the $300,000 call option was the most popular bet in the June 27 expiry, with a notional open interest of over $600 million, up from $484 million three weeks ago, according to data source Deribit. Notional open interest represents the dollar value of the number of active or open contracts at a given time. On Deribit, one options contract represents one BTC. “The June $300K BTC call options have emerged as the strike with the highest open interest [in June expiry], reflecting aggressive speculative positioning by traders anticipating continued upside,” Deribit’s Asia Business Development Head Lin Chen told CoinDesk. “The combination of record-breaking volumes and concentrated options bets signals elevated market confidence—and the potential for heightened volatility ahead,” Chen added. Deribit’s notional options open interest hit a record high of $42.5 billion last week. The momentum is mirrored in the platform’s newly launched block RFQ (Request for Quote) system, registering a historic record of nearly $1 billion in daily volume. BTC options: distribution of open interest in the June expiry. (Deribit) A call option gives the purchaser the right but not the obligation to buy the underlying asset, BTC, at a predefined price on or before a specific date. A call buyer is implicitly bullish on the market. The $300,000 call expiring on June 27 represents a bet that bitcoin’s price will rise three times from the present $110,000 to…
Filed under: News - @ May 27, 2025 11:25 am