$BTC
The Bitcoin options market is ushering in a new dawn!
Trump shows signs of optimism before taking office!
According to the latest news, the Bitcoin market is ushering in a new bullish wave. Options activity on the $110,000 and $120,000 strike prices picked up significantly on the Deribit derivatives exchange.
At the end of December last year, the price of Bitcoin fell back to about $91,000. But then, it quickly showed a strong rebound and has now climbed to around $99,000.
On Deribit, call options with a $120,000 strike price became a popular choice among traders. The option, which currently has a whopping $1.52 billion in notional open interest, is the focus of the market.
Notably, Deribit’s put-to-call ratio has dropped to 0.24 across all expirations. This ratio reveals the current sentiment bias in the market by comparing the volume of put and call options. A ratio below 1.0 means that call options have the upper hand, indicating that the market is expecting prices to rise.
The Bitcoin options market is exuding a strong sense of optimism as traders brace for potential price gains. This wave of market changes before Trump took office undoubtedly added a bright color to the future of Bitcoin.