Traders bet on bitcoin growth to $ 80,000
Bullish sentiment still dominates in the camp of crypto traders. This is evidenced by the data of the derivative crypto exchange Deribit, whose users are launching options on bitcoin with a strike price of up to $ 80,000. The terms of such contracts will end on April 30.
March Bitcoin Options expire today. As many observers expected earlier, on the eve of expiration, market volatility has exacerbated. There were even risks of the BTC rate falling below $ 50,000.
However, the coin was able to stay above this psychological mark. Now it is traded in the region of $ 53,400. Cryptocurrency capitalization per day increased by 2.8% to $ 997 billion.
Analysts at Glassnode note that the launch of options with strike prices of up to $ 80,000 indicates that traders are betting on a more impressive rise in the price of bitcoin.
However, even if BTC does not reach such a mark, it is still possible to speak with confidence about the preservation of positive sentiments in the camp of institutional investors focused on the options market.
Skew estimates that the probability of exceeding the $ 80,000 mark by April 30 is only 6.19%.
Observers note that there are more aggressive traders. They are betting on Bitcoin going up to $ 120,000 by the time the April options expire. The Skew report says the probability of reaching $ 100,000 is only 2.15%.
At the moment, Deribit crypto exchange is the absolute leader in the cryptocurrency derivatives market.
According to the estimates of the same Skew service, now up to 91% of options on bitcoin fall on this platform. Next in the list are trading platforms Bit.com (5%), OKEx (2%), CME (Chicago Mercantile Exchange) and LedgerX (1% each).