Trading Activity: A Critical Mass of $85k Bitcoin Call Options Purchased
CryptoNewsTerminal Staff04 Jun, 2024
Trading Activity: A Critical Mass of $85k Bitcoin Call Options Purchased
Traders are actively engaging in bullish Bitcoin (BTC) options trading, with significant purchases of call options at a strike price of $85,000. As reported by Benjamin Lin, Asia Business Development Director of Deribit, a renowned crypto options exchange, a single trader has acquired 75 BTC worth of call options expiring in March 2023. These options grant the holder the right to buy Bitcoin at $85,000, regardless of the prevailing market price at the time of expiry. This strategic move suggests that the trader anticipates a substantial increase in Bitcoin's value over the next several months. Options trading has become increasingly popular among crypto investors seeking to speculate on future price movements without directly buying or selling the underlying asset. The recent surge in call option purchases indicates growing optimism among traders regarding Bitcoin's long-term prospects. However, it's imperative to note that options trading involves significant risk and should only be considered by experienced investors with a comprehensive understanding of the potential outcomes.
