Quick Take

The data analysis unveils a strongly optimistic sentiment in the Bitcoin options market. Specifically looking at Deribit’s open interest by strike price for the options contract expiring on December 29, it’s apparent that traders are overwhelmingly bullish on Bitcoin’s potential. The most noteworthy detail lies in the predominant call options for strike prices at $40,000 and $45,000, indicating that investors are largely betting on Bitcoin to reach or exceed these prices by the contract’s expiration.

This trend underscores a broader sentiment within the market, where market participants appear to be banking on a bullish uptrend for Bitcoin, reflecting a palpable confidence in the digital asset’s resilience.

However, as with all markets, options trading carries inherent risk. Traders should take note of fluctuating market conditions, regulatory changes, and other factors that could potentially influence Bitcoin’s price trajectory.

Options Open Interest by strike price: (Source: Glassnode)

The post Bitcoin options market sees surge in bullish bets on $45,000 strike price appeared first on CryptoSlate.

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Filed under: Bitcoin - @ September 29, 2023 9:15 am