Bitcoin Options Traders Predict Breakout Above $74K to New Record Highs
Bitcoin options traders are increasingly positioning for a significant price surge, anticipating a breakout above $74,000 to new record highs this month. Market activity shows heavy buying of BTC call options expiring in June, indicating a bullish outlook.
Key Highlights:
Call Buying Surge: Options trading desks report concentrated call buying for June expiries, suggesting traders expect BTC to rally between $74,000 and $80,000.
Short Squeeze Potential: Around $1.5 billion worth of short positions near $72,000 could be liquidated, further driving prices up.
Market Sentiment: Digital asset hedge funds and crypto derivatives trading firms observe strong bullish follow-through and increased demand for call spreads.
Bitcoin has been consolidating around $71,000 after recovering from a dip below $57,000 in May. With significant open interest in futures and spot bitcoin ETFs, the market is primed for a potential breakout.
