Bitcoin Options Market Not Buying BTC Price Weakness, Shows Bias on $100,000 Calls

BTC call demand at $100,000 suggests traders are preparing for a new rally through 2025, according to a trading firm.

Crypto options traders are making strategic bets that diverge from the current downward trend in the price of bitcoin (BTC).

In the last 24 hours, the leading cryptocurrency by market value has decreased more than 2.6% to $63,500.

Still, the flow of bitcoin options listed on leading exchange Deribit has skewed toward call options at levels (strikes) well above the cryptocurrency's market rate, perhaps a sign that sophisticated investors expect Let the current price weakness set the stage for a longer run higher.

In the options market, we see an abnormally large buying flow of December and March calls [expiration] from $90 to $100 thousand in the last 24 hours. "We believe this suggests the market is bottoming out and positioning itself for a sustained rally, possibly lasting through 2025," Singapore-based QCP Capital said in a market update.

A call option gives the buyer the right, but not the obligation, to purchase the underlying asset, BTC, at a predetermined price at a later date. A call buyer is implicitly optimistic in the market.

The chart shows the most active bitcoin options on Deribit over the last 24 hours. Activity has primarily focused on options with June expirations at $65,000, $68,000 and $70,000, options with July expirations at $110,000, and options with December expirations at $95,000.

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