Options Whales Have Made Up Their Minds: They Expect a New Record in Bitcoin (BTC) by This Date

Options whales are confident in Bitcoin’s future, expecting a new record high by a specific date. Options traders are increasingly betting on Bitcoin’s price reaching a record high by the end of the month. This optimism is driven by a combination of factors, including expectations of lower US interest rates and increased inflows into ETFs. According to data from Deribit, the largest cryptocurrency options exchange, the largest open position is currently in Bitcoin call options with a strike price of $75,000 across all maturities. This is followed by strike prices of $100,000 and $80,000. Investors are feeling bullish and anticipate new all-time highs for Bitcoin. The positive sentiment in the options market is fueled by several factors, including strong BTC ETF flows, expectations of interest rate cuts in the US and the European Central Bank (ECB), as well as the approval of an Ethereum (ETH) ETF. Despite a recent cooling in demand for Bitcoin ETFs, Bitcoin climbed to as high as $71,756 this week, and investors believe it has the potential to reach a new high. Call options expiring on June 28 have the highest open position around the strike price of $75,000, while open positions for July 26 and December 27 expiries reached their peak around $100,000. All of this indicates a positive outlook for Bitcoin in both the short and long term. However, it’s important to note that this information does not constitute investment advice.