Demand for calls at $100K suggests traders preparing for a renewed rally into 2025, according to one trading firm.
Still, the flow in bitcoin options listed on leading exchange Deribit has been biased toward call options at levels well above the cryptocurrency's going market rate, perhaps a sign sophisticated investors expect the ongoing price weakness to set the stage for a more extensive run higher. A call option gives the purchaser the right but not the obligation to buy the underlying asset, BTC, at a predetermined price at a later date. A call buyer is implicitly bullish on the market.The chart shows the most active bitcoin options on Deribit over the past 24 hours. The activity has been mostly concentrated in June expiry calls at $65,000, $68,000, and $70,000, July expiry call at $110,000 and December expiry call at $95,000.
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