Bitcoin Options Data Indicates Expectations of Price Surge Towards Highs by End June

Bitcoin Options Data Shows Price Rise Expectations Toward Highs By End-June

According to market analyst Ruslan Lienkha, Binance’s latest options data revealed intensified open interest in Bitcoin options with a strike price of $75,000 for the end-June expiration. Lienkha explained that this concentration of open interest is in line with Bitcoin’s all-time high. In mid-March, Bitcoin reached a peak value of over $73,000.

Options are derivative contracts that give investors the right, but not the obligation, to buy or sell the underlying asset at a predetermined price on or before a certain date. Call options give the right to buy, while put options give the right to sell. It is generally assumed that traders who buy call options in the market are in a bullish trend, while put buyers are in a bearish trend.

Lienkha noted the significant dominance of call options in open positions and suggested that many options traders are predicting that Bitcoin will surpass its all-time high by the end of June. This observation is also consistent with data from derivatives exchange Deribit, which shows buying concentration at a $75,000 strike price for the end-June expiration.

Despite expectations of a price increase, Lienkha predicts that the Bitcoin price will likely consolidate around its current levels in the coming weeks. This suggests there is potential for a period of relatively stable trading in the short term. At the time of writing, Bitcoin (BTC) is trading at $61,212 and is up slightly by over 0.54% in the last 24 hours.