Bitcoin options traders : Crypto investors are buying more call options to try and profit from Bitcoin reaching its highest prices ever.
Information from Bloomberg Intelligence shows a significant increase in trading for specific contracts that bet on Bitcoin reaching prices of $60,000, $65,000, and $75,000 by March 29. This is happening even though Bitcoin’s highest ever price was $69,000, which happened over two years ago, in November 2021.
A lot of action in the options market shows that Bitcoin investors are really interested and making plans.
When traders buy a lot of call options for prices higher than the current market price, it means they think the asset’s price will go up to or above these prices. This high activity shows what the market feels and expects about future prices, and it makes the market more active and easier to trade in.
On Monday, Bitcoin’s price went up to $50,000 for the first time in two years, and it kept increasing for seven straight days. After this increase, its price went down to $49,000 because people sold their Bitcoin to make a profit from the recent rise.
Expected cuts in interest rates and the upcoming halving event are seen as main reasons that could further increase Bitcoin’s value.
Disclaimer: The information on this website isn’t meant to be taken as advice for investing money. Investing involves uncertainty, and there’s a chance you could lose your money when you invest.
