Call Options Indicate Bullish Outlook on Bitcoin

IconCryptoNewsTerminal Staff05 Jul, 2024

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Call Options Indicate Bullish Outlook on Bitcoin

Lin Chen, head of Asia business development at crypto options exchange Deribit, told Forkast that “the largest option trade today was a particular trader buying 250 BTCs of call options that expire late March next year with a strike of $85,000.” The trader reportedly paid about $1.397 million in premium for those call options.  “This large call option buy suggests that this trader is bullish on BTC long term,” Chen said, adding that “most traders think the severe drop in BTC is a good chance to build up their positions, so the trader increased the position size.”

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