Over 100 million US$100 million Bitcoin Options (BTC) are expected to expire at 08:00 UTC on this Friday at Deribit, a Cryptocurrency Derivatives bag. For traders, everything is given to Bitcoin being negotiated for 110,000 USD.
So far, the 92,888 Bitcoin monthly option has a concept value of over USD 100 million and is ready to be solved. Of these, 49,555 are purchase options (phone) and 43,333 are sales options (Put), as seen in the following Detribit graph.
The advantages of purchasing options at the above levels are: Bitcoin can maintain or overcome US$110,000 in the short term.
So far, the distribution of open interest indicates a large concentration of exposure in the exercise price (also known as the one known as the one). Strike price) USD 95,000, USD 100,000, USD 105,000. This is suggested by traders with positions at these levels Face important risks Before Bitcoin price transfer.
Additionally, the price of “Max Pain,” the level at which option buyers suffer the biggest losses, is located at US$100,000. Important points to monitor before the expiration date.
at the moment, Bitcoin is quoted at USD 108,800 per currencywhich has risen 0.98% over the past two hours after reaching a historic maximum of over 111,000 US$ last week.
Options markets are an important indicator of investors’ expectations for the future price of Bitcoin. These contracts grant rights without obligation; Buy and sell assets at a fixed price on future dates. While purchasing options reflect confidence in price increases, sales options try to reduce the risk of falls.
The purchase options reflect bullish bets, but the sales options protect against price drops. In Delibit, each contract represents a BTC. ratio Put/Callto measure the percentage of sales and purchase options, it is 0.87. It shows the superiority of bullish bets among traders.
A sustained strong feeling
This behavior in the Bitcoin Options market It reflects a lasting sense of bullishnessas reported by Cryptootics, was driven by factors such as increased institutional interest and favorable macroeconomic conditions such as the recent ceasefire in the commercial war between the US and China.
Furthermore, institutional investments Bitcoin exposure is increasing through derivativesthere are large funds and businesses that incorporate digital currencies into their portfolios as value reserves.
For the longest period, traders have shown even more optimism. Previous Delibit data shows options for strike price options of US$120,000 and US$130,000 have recently been negotiated. It also has important interest at the 300,000 US dollar level As reported by the media, for the expiration of June 27th.
The move suggests that speculators are anticipating a sustained Bitcoin rallies in the coming months, It is supported by the relationship Put/Call 0.38 in recent weeksthis reflects strong bullish beliefs.
However, tomorrow’s expiration could create volatility. The “gamma” metric, which measures the sensitivity of options to changes in Bitcoin’s price, reaches a maximum point as the liquidation time approaches.
This could lead to general compensation by investors and market creators. Those who take the opposite position from the trader’s positioncould amplify the price movements from USD 95,000 to USD 105,000.
Despite this, the DVOL index of DELIBIT, which measures implicit volatility over 30 days, has been reduced. This suggests that the market does not expect significant turbulence As you can see in the following graph, it was derived from the expiration date.
Bitcoin’s permanent options and overall future interest reached a record of over USD 450 million, but has since been adjusted to USD 360 million, according to Coinglass.
As the expiration date approaches, traders will continue to pay attention to Bitcoin moves in the coming hours since the important move It may trigger a quick position adjustment.
Meanwhile, long-term optimism continues to grow, driven by market dynamics and institutional interests. This is when an estimate of up to $120,000 per BTC is given in the short term.