Bitcoin Options Traders Bets on Bullish September Price Move Above $100,000

Analysts are watching bullish conditions in the bitcoin options market following the digital asset's bounce on Friday, a rally sustained throughout the weekend and into early trading of the week.

Analysts at QCP Capital say bitcoin risk reversals have turned positive, with call options now more expensive than puts. This suggests bullish sentiment among investors, as they are willing to pay more for options that benefit from a rise in bitcoin than for options that protect against a price drop.

“We are seeing renewed demand for September bitcoin calls at a $75,000 strike price and also for $100,000 calls,” QCP Capital analysts added.

The observation in the QCP Capital report corresponds with data from the Deribit derivatives exchange. According to their data, the current maximum volume per instrument in the options market is for bitcoin calls with a strike price of $110,000 for expiration at the end of September.

However, according to Stocklytics analyst Neil Roarty, for bitcoin to reach a price above $100,000, it "will have to show even greater resilience in the face of increasing regulatory scrutiny and broader political and economic uncertainty."

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