After a few troubled weeks in the markets, the sentiment around Bitcoin seems to recover. The course climbed over $ 84,000 from a low point below $ 75,000. This can also be seen on the derivative market. The most popular option is currently a call option to $ 100,000.
$ 1.2 billion on BTC course of 100K
On the trading platform Deribit the call option with an exercise price of $ 100,000 is currently by far the most frequently chosen among dealers. With such a call option, betting dealers to a price increase to at least $ 100,000. According to market data, this option represents an open interest of almost $ 1.2 billion. A clear indication that many traders expect Bitcoin to reach the magical limit of 100k again in the coming months.
Call options give the buyer the right, but not the obligation, Bitcoin (BTC) to buy at a prize agreed in advance. The purchase of such a call shows that a dealer expects the price to rise.
Chaos in the markets by President Trump
The upswing in BitcoinMarket comes at a remarkable time: President Trump suddenly took back some of his previously announced tariffs, including a significant import tax on smartphones and other tech products from China. The financial markets reacted immediately. Interest on American government bonds gave up and investors returned to risk systems such as crypto.
“Trumps by the bond market crisis made of a fitted customs withdrawal turned the loud narrative of aggression to surrender, and the markets from capitulation to aggressive upswing,” said Deribit in an update.
Option market reflects new trust
Last week there was still a lot of fear in the markets. There was a strong puter tendency: Many dealers bought protective put options (bets on falling prices) with exercise prices by $ 75,000. But that has changed now. Calls between $ 85,000 and $ 100,000 are on the rise.
SKEW Measures the difference in the demand for calls and puts and has increased again over 0. This means that trust returns. Only the seven-day-skew is still slightly negative, but a recovery is already visible there.
Not only the course is in motion, the sentiment also shifts. The popularity of the $ 100,000 call shows that investors dare to look at new all-time highs again. Whether Bitcoin will actually break through this limit must be shown in the coming weeks.