Traders operating in the options market are anticipating a bullish month for the digital currency.
According to options trading movements, bitcoin (BTC) could see a price rise to new all-time highs this June. This is shown by data from Deribit, the main exchange for this activity.
The majority of bitcoin purchase options expiring on June 28 on Deribit are for prices between 75,000 and 85,000 dollars (USD). Specifically, operations between such quotes represent more than USD 1.2 billion
The price of bitcoin continues in a period of consolidation in a range below the all-time high of USD 73,700 recorded three months ago. Currently, it is trading around USD 70,000
Thus, options traders are bullish for the remainder of June, with the majority of their call rights at prices higher than the all-time high.
Bitcoin call options are financial contracts that, for a cost premium, grant the right, but not the obligation, to purchase BTC at a specific price before a certain date. When traders purchase them at higher prices than the current one, it reflects their anticipation of a possible rise and their hedging strategy in case it happens.
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