Bitcoin Traders Eye $100,000 as Options Roll Over, Despite Tariff War Concerns

Bitcoin options rollover indicates a significant shift in market sentiment, with traders focusing on $95,000 and $100,000 strike prices for May expiries. This suggests a strong expectation of a potential breakout to $100,000. Post-expiry, Bitcoin is trading at $94,581, and analysts predict further upside due to cleared resistance and rising spot flows and ETF demand.

Despite the bullish sentiment, caution is advised due to market concerns over the tariff war and potential inflationary risks. Analysts from Bitfinex noted that the market is leaning cautiously bullish, with the $90,000 strike cluster now cleared, reducing option-based resistance overhead. Many traders have rolled their exposure to higher strikes, with increased call open interest for $95,000 and $100,000 for end-April and May expiries. This reflects the expected continued upside, although a potential short-term chop is not ruled out.

Deribit analysts also highlighted that the highest open interest for BTC options is around the $100,000 strike price, indicating strong market expectations of Bitcoin reaching this level. This is attributed to traders selling cash-secured put options on Bitcoin and using stablecoins to collect premiums while buying BTC at lower prices. The Cumulative delta (CD) across BTC and related ETF options on Deribit reached $9 billion, with rising spot flows and ETF demand continuing to dictate BTC's price movement.

However, some analysts urge investors to temper their optimism. The Chief Executive Officer at Paybis Exchange, Innokenty Isers, noted that the uncertainty around the tariff war has triggered concern among investors, leading many to steer clear of more volatile assets like Bitcoin. The Federal Reserve has also spotlighted the inflationary risks the tariff war may introduce. Nevertheless, there are clear indications of sustained accumulation of BTC by institutional investors and market whales.