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Home»ADOPTION NEWS»Bitcoin call options are focused on strike prices above $50,000 ahead of expiration at the end of February.
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Bitcoin call options are focused on strike prices above $50,000 ahead of expiration at the end of February.

By Crypto FlexsFebruary 13, 20243 Mins Read
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Bitcoin call options are focused on strike prices above ,000 ahead of expiration at the end of February.
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Kooner added that as the market attempts to break above the important psychological level of $50,000, many long-term bullish traders are buying these cheap call options with strike prices well above the current price of Bitcoin.

“These strike prices are significantly higher than in previous cycles,” he told The Block.

Bitcoin call options set to expire at the end of February are concentrated at strike prices above $50,000. Image: Deribit.

The concentration of Bitcoin calls above the $60,000 strike price suggests that a significant percentage of market participants have a particular interest or expectation that the Bitcoin price will rise above this level before the next month-end expiration date.

BTC Options Market Weighted on Buys

According to Kooner, the options market is heavily biased toward the buy side. A Bitfinex analyst said call spread positions are becoming more common in the derivatives market since Bitcoin crossed $48,000.

“The overall open interest spread is currently biased toward calls at a put-call ratio of 0.47. The overall market put-call ratio over the past 24 hours is 0.60. The ratio of 0.59 based on options expiring on February 23 extends the current trend.” He added:

A put-to-call option ratio less than 1 means call volume exceeds put volume, indicating bullish sentiment in the market. Traders who buy call options implicitly assume that they are bullish on the market, while put buyers are assumed to be bearish.

An option is a derivative contract that gives a trader the right, but not the obligation, to buy or sell an underlying asset at a predetermined price on or before a specific date. A call option grants the right to buy, and a put option grants the right to sell. Traders who buy put options implicitly assume that the market is bearish, while call option buyers assume that the market is bullish.

The largest digital asset by market capitalization was trading at $48,720 at 10:09 a.m. ET, according to The Block’s pricing page. The GM 30 index, which represents the top 30 cryptocurrencies, is up 0.13% over the past 24 hours.

Bitcoin price fell below $49,000. Image: Block.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

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