🚀 Despite last week's market volatility, Bitcoin options are still in the bull market! 🎢
Bitcoin briefly fell below $57k as Fed interest rate concerns eased, but rebounded over the weekend. This decline has been a boon for put options expiring at the end of May; The $57k-$60k range became profitable for a short time. However, as Bitcoin rebounded to $64k, these put options lost their advantage. Call options in the $60k-$65k range are back in play.
🔥The total value of call options with a strike price of $80k is $600 million, still out of the money.
The fact that call options are more than put options indicates a bull market outlook. 🐂
Bitcoin options contracts expiring on September 27 are dominated by call options, with $65k being the popular option.
This suggests that if Bitcoin remains above $65k by the end of September, $300 million worth of call options will be profitable.
Meanwhile, meme coins lead in leverage; Pepe ($PEPE ) and Dogwifhat ($WIF ) boast double leverage compared to other altcoins. 🐶
What do you think about this bull market trend? Share your thoughts below!👇
